Kimbal Musk on Elon's Tesla pay package: 'My brother deserves to be paid'

Core Viewpoint - Kimbal Musk supports the notion that Elon Musk deserves to be compensated for his role at Tesla, emphasizing that he has not received a salary or cash bonuses for the past six to eight years [2]. Compensation Structure - Elon Musk's compensation at Tesla is structured through performance awards in the form of stock options, contingent upon the company achieving specific milestones [2]. - Recently, Tesla granted Elon Musk an interim pay package consisting of 96 million shares, valued at approximately $29 billion, which will vest in two years if he remains in a key executive position [3]. Board Approval and Legal Context - The recent pay package was approved by a special committee of the Tesla board, with both Elon and Kimbal Musk recusing themselves from the decision-making process [3]. - This new compensation plan follows a Delaware judge's order to revoke Elon Musk's previous $56 billion pay package from 2018, which was noted as the largest compensation plan for a public company executive in U.S. history [4].