Tesla chair says Elon Musk may leave without $1 trillion pay plan

She said Musk’s leadership was “critical” to the company’s future and warned that without a package that encourages him to stay, Tesla could lose his “time, talent and vision,” as quoted by Reuters. She added that his role is important as Tesla aims to expand in artificial intelligence and autonomous driving technology.

What the plan includes

The proposed package would give Musk 12 blocks of share options if Tesla hits large targets, including a market value of $8.5 trillion and progress in self-driving systems and robotics, Reuters said.

Denholm said the package would connect Musk’s rewards to long-term growth and shareholder value, according to Reuters. She also asked investors to re-elect three long-serving directors who have worked closely with Musk.

Tesla’s board has been criticised by some shareholders and governance experts who say it has not shown enough independence from Musk. Earlier this year, a Delaware court cancelled his 2018 pay deal, saying it was not properly handled by directors who were not fully independent.