Tesla’s (TSLA) board has proposed a new pay package for CEO Elon Musk worth $1% over the next decade if he is able to hit a series of targets, The Financial Times’ Stephen Morris and Kana Inagaki report. Musk will receive no salary or bonus under the plan, but will collect shares in installments unlocked by increases in Tesla’s market value, combined with milestones including a significant increase in earnings and selling millions of cars, robotaxis and AI-powered robots. “Retaining and incentivizing Elon is fundamental to Tesla… becoming the most valuable company in history,” chair Robyn Denholm said in a letter to investors. The package is “designed to align extraordinary long-term shareholder value with incentives that will drive peak performance from our visionary leader.”
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