Tesla(US:TSLA) Zhong Guo Ji Jin Bao·2025-08-04 13:14Core Viewpoint - Tesla has approved a stock award of 96 million shares to Elon Musk, allowing him to purchase them at $23.34 per share, valued at approximately $29 billion, emphasizing the importance of retaining Musk in the company [1][2][3]. Group 1: Stock Award Details - The stock award is part of Tesla's 2019 equity incentive plan, with Musk required to remain CEO or in a senior operational role for the shares to vest after two years [2][3]. - Musk's purchase price of $23.34 per share is consistent with the price from a previous award in 2018 [3]. - The special committee stated that this award is a significant step in compensating Musk for his extraordinary contributions to Tesla and its shareholders [3][4]. Group 2: Market Reaction - Following the announcement, Tesla's stock price surged nearly 3% in pre-market trading [5]. Group 3: Legal Context - Musk's previous compensation plan, which could have granted him 12% of Tesla's stock options, faced legal challenges, with a court ruling it as excessive and unfair [6][7]. - Musk has since filed a lawsuit to restore his $56 billion compensation plan, arguing that the court's decision was flawed [7].