•1 min read•from TechCrunch
Tesla drops Musk’s $29B ‘interim’ award after Delaware court restored larger pay package
Our take
Tesla has officially rescinded Elon Musk’s $29 billion "interim" award after a Delaware court reinstated his larger compensation package from 2018, valued at $56 billion. This decision aligns with the company's commitment to prevent Musk from "double dipping" should he succeed in appealing the earlier ruling. By adhering to this principle, Tesla emphasizes its dedication to equity and transparency in executive compensation, ensuring that the rewards reflect the company's performance and Musk's leadership without overlapping payouts.
The company is following through on its promise to not let Musk "double dip" if he won his appeal to restore Tesla's 2018 compensation package, worth $56 billion.
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