Telsa Filed with SEC today:
On April 17, 2024, Tesla, Inc. (“Tesla”) launched a website,
www.SupportTeslaValue.com, in connection with its 2024 Annual Meeting of Stockholders.
www.SupportTeslaValue.com
A CEO Performance Award 100%
Aligned with Stockholder Interests (Edit: except when he stirs the pot tweeting divisive posts and pokes fun at the sitting US president and other governing persons and offices whose graces Tesla Corp. needs, but we won't talk about that right now)
01
In 2018, Tesla’s Board of Directors asked stockholders to approve a CEO Performance Award that incentivized Elon to meet staggering financial and operational objectives over a 10-year period. Stockholders did – by a wide margin.
02
In just five years, Elon delivered by hitting every single “jaw-dropping” key milestone in the plan to deliver a total shareholder return of nearly 1,100%.
03
Six years later, a Delaware Court stepped in to side with a plaintiff who owned just nine Tesla shares when he sued and ordered the plan be cancelled, despite overwhelming approval from holders of millions of shares.
04
Unlike most CEOs, Elon was entitled to receive NO salary, NO cash bonuses, and NO equity that would vest simply by the passage of time. Instead, he was asked to deliver the type of exponential value creation most thought was impossible – or get nothing.
05
Elon was also required to hold any shares awarded through stock options for five years after the option was exercised, meaning that he was not only incentivized to achieve remarkable results at the time to earn his compensation, but to also continue to drive growth for five more years.
06
As stockholders recognized by voting in favor in 2018, the ultra-ambitious plan was simple: if stockholders and the Company benefit, so does Elon.