Tesla CEO Elon Musk to Award New Stock Options to Some Employees

TapTechNews June 19th news, Tesla CEO Elon Musk announced that new stock options will be awarded to some outstanding performing employees. Previously, shareholders had approved his record-breaking compensation package.

Previously, a judge revoked Musk's CEO compensation package on the grounds of misleading shareholders, and just a few weeks before the ruling, Tesla canceled all employees' stock options.

However, unlike Musk getting shareholder support, no Tesla employees came forward to speak up for their option rights. Last week, shareholders voted again to pass Musk's stock compensation package worth 55 billion US dollars (TapTechNews note: currently about 399.599 billion Chinese yuan).

After winning at the shareholders' meeting, Musk said that he will issue stock options to employees again, but not all employees can enjoy it. Musk said that the options will be awarded to outstanding performing employees: In the coming weeks, Tesla will conduct a comprehensive assessment to offer stock option rewards to outstanding performing employees. In addition, the company will also set up a continuous program to award special option rewards to employees who have made outstanding contributions to the company. Thank you for all that you have done for Tesla's success.

In addition to canceling employees' stock options at the end of last year, Tesla also canceled the salary adjustments of many employees.

Musk has always emphasized that Tesla's stock option plan (previously available to all employees) proves that Tesla's compensation is better than that of other automakers. This statement is indeed true when Tesla's share price performs well, but this year Tesla's share price has dropped by 26%.