Tesla’s (TSLA) board is reportedly exploring a new CEO pay deal for Elon Musk, who might not get back his $55 billion 2018 compensation package.
According to a new Financial Times report, Tesla’s board created a new “special committee” to explore a new CEO pay package for Musk.
The report points to the committee looking at new stock options and “alternative ways” to compensate Musk if Tesla fails to reinstate his 2018 compensation package, which was rescinded by a judge who found that Musk negotiated the deal with a board under his control and then misrepresented it to shareholders.
Musk is Tesla’s largest shareholder and therefore, he stands to benefit the most when the company does well. However, he doesn’t take a salary for his role as CEO.
Historically, He has received stock compensation packages, with the one secured in 2018 being the…
