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What's the own goal? All I know is that a judge vetoed Elon paying himself an absurd amount. Is that really what this is all about? Billionaire mad he didn't ge

• adastra22 2y ago
  If you're on this site, surely you know the difference between a stock option and a stock grant? Elon's pay package was options, and was only evaluated at ~$2bn over many years in 2018, and even then assuming significant growth. At the time of grant, the options were worth $0. The only reason the pay package is so astronomical now is because the Tesla stock has risen astronomically in value. Which benefits the shareholders, no? This dilution in shareholder value is already factored into the rising price.
  • 9283409232 2y ago
    Going by this comment, it appears there was some sloppiness on Tesla's side of things and the judge is being a bit of a hard ass here. https://news.ycombinator.com/item?id=42901804 https://news.ycombinator.com/item?id=42901804
• JumpCrisscross 2y ago
  > a judge vetoed Elon paying himself an absurd amount Not technically correct. Tesla is allowed to gift Elon everything it owns. The problem was Tesla didn’t follow the rules in how to do it such that the shareholders were ensured an honest negotiation between themselves and management. The Board was not independent, and the shareholders at the time of the grant didn’t approve it. A later cohort signed off on it, but it was still backdated. The only downside to making a new grant are the tax implications.
• dkjaudyeqooe 2y ago
  The judge vetoed a pay packed designed by directors who were not independent of Musk. Musk was just sloppy and greedy. He could have got it if he had acted within the law, but then he probably wouldn't have gotten as much.