Members of the Tesla Inc. (NASDAQ:TSLA) board of directors unveiled a striking new compensation plan for CEO Elon Musk that could be worth as much as $1 trillion, setting the stage for one of the largest pay packages ever seen in corporate America.
What Happened: The proposal, outlined in a proxy filing on Friday, ties Musk's payout to a series of aggressive targets over the next decade. The new plan proposed by the board members would grant Musk the first of 12 tranches of Tesla shares if the company reaches at least $8.5 trillion market capitalization from its current $1 trillion value, an SEC filing showed on Friday.
