Tesla awards CEO Musk millions in shares valued at about $29 billion

submitted 3 months ago by

abcnews.go.com/Business/wireStory/tesla-awards-…

Tesla is awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately $29 billion, just six months after a judge ordered the company to revoke his massive pay package.

The electric vehicle maker said in a regulatory filing on Monday that Musk must first pay Tesla $23.34 per share of restricted stock that vests, which is equal to the exercise price per share of the 2018 pay package that was awarded to the company's CEO.

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