Tesla hit $500 and 90B Market cap. If it grows 10% more Elon will get hist first portion of his compensation which is 1% of Tesla's current total outstanding shares.
(Source: reddit.com)

clicks | 11 days ago | comments: discuss | tags: bitcoin


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(Original link: reddit.com)

CEO Performance Award Details
The performance award consists of a 10-year grant of stock options that vests in 12 tranches. Each of the 12 tranches vests only if a pair of milestones are both met.
Market Cap Milestones: To meet the first market cap milestone, Tesla's current market cap must increase to $100 billion. For each of the remaining 11 milestones, Tesla's market cap must continue to increase in additional $50 billion increments. Thus, for Elon to fully vest in the award, Tesla's market cap must increase to $650 billion. Operational Milestones: To meet the operational milestones, Tesla must meet a set of escalating Revenue and Adjusted EBITDA targets (the only adjustment to EBITDA is for stock-based compensation). These milestones are even more directly aligned with shareholder value creation than those used in Elon's 2012 performance award. They are designed to ensure that as Tesla's market cap grows, the company is also executing well on both a top-line and bottom-line basis. For each of the 12 tranches that is achieved, Elon will vest in stock options that correspond to 1% of Tesla's current total outstanding shares (1% of that amount is approximately 1.69 million shares). If none of the 12 tranches is achieved, Elon will not receive any compensation.

https://ir.tesla.com/news-releases/news-release-details/tesla-announces-new-long-term-performance-award-elon-musk?ReleaseID=1054948

Edit: Mark B. Spiegel ‏ @ markbspiegel
As I noted last week, right now $ TSLA = Bitcoin (except at least Bitcoin frauds get prosecuted!). As I said I’d do last week, I stopped it down to 5-6% of the fund when it took out last week’s high today, and will stay there until it reconnects with reality....