On Monday Tesla’s quarterly report hit targets qualifying Chief Executive Elon Musk for two choices payouts worth a combined $11 billion. The electric car maker beat Wall Street’s expectations for first-quarter revenue and profit, increased by record deliveries, robust demand from China and environmental credit sales.
Tesla’s shares have receded from record highs this year after jumping more than eight-fold last year.
At Monday’s price of $722, the shares from the four last tranches, plus the fifth and sixth tranches, could cause a profit of around $34 billion, or almost $6 billion per tranche. In its quarterly report after the bellTesla said it incurred an expense of $299 million related to Musk’s pay package, “driven by an increase in market capitalization and a new operational milestone becoming probable.”
