<div id="readability-page-1"><div><div><p><strong>Tesla Inc.</strong> <span>TSLA</span> has begun the process to award CEO <strong>Elon Musk </strong>with the compensation award amid uncertainty over the previous $56 billion pay package.</p><p><em>Check out the current price of</em><em> </em><em>TSLA stock here</em><em>.</em></p><div><div><div><p>Trending Investment Opportunities</p></div></div></div><h2>Elon Musk To Get 96 Million Tesla Shares As Compensation</h2><p>Taking to the social media platform X on Monday, Tesla shared a letter addressed to the shareholders of the company, announcing that it will begin the process to compensate Musk.</p><p>&#34;Today we announce an important first step in compensating Elon Musk for his extraordinary work at Tesla,&#34; the company said in the statement on X, highlighting that Musk hasn't received &#34;meaningful compensation in eight years&#34; since 2017.</p><h2>No &#34;Double Dip&#34; For Musk</h2><p>The company also said it was &#34;more important than ever before&#34; to keep Musk as CEO, as Tesla is at “a critical inflection point that has the potential to create continued extraordinary value,&#34; for the shareholders.</p><p>The statement, issued by Board members <strong>Robyn Denholm</strong> and <strong>Kathleen Wilson-Thompson</strong>, stipulates that Musk would receive over 96 million shares in Tesla after anti-trust approval, but says that the shares have a holding period of five years unless Musk has to &#34;cover tax payments or the purchase price.&#34;</p><p>However, if the Delaware court reinstates Musk's $56 billion pay package, he must forfeit the current compensation. &#34;To put it simply, there cannot be any ‘double dip,'” the statement said.</p><h2>Musk Fears Losing Control Over Tesla Amid Dwindling Sales</h2><p>The announcement follows Musk expressing fears of losing control over Tesla, as the billionaire had denied any personal loans tied to his shares in the EV giant. &#34;It is worrying in that I don't want to build millions of robots and then be potentially ousted by activists,&#34; Musk said.</p><p>The comments come at a difficult time for the company, with sales figures dwindling in multiple markets throughout the world. Tesla's sales in Denmark, Sweden and France declined for the seventh consecutive month.</p><h2>Delaware Court Ruling And Musk’s $56 Billion Pay Package</h2><p>The letter also comes in as a Delaware court in 2024 had overruled Musk’s $56 billion pay package, which was approved by the members of Tesla’s Board. Elsewhere, Tesla’s board is set to hold its annual shareholder meeting in November, with experts like <strong>Wedbush Securities</strong> analyst <strong>Dan Ives</strong> saying Musk’s pay package would be in focus.</p><p>Tesla scores well on Momentum and Quality, while offering satisfactory Growth, but poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!</p><p><em>Check out more of Benzinga’s Future Of Mobility coverage by</em><em> following this link.</em></p><ul> <li>Elon Musk Says Tesla Drivers Could Play Video Games During Self-Driving Mode In 3–6 Months—Talks About Robotaxi Launch In Chicago</li> </ul><p><em>Image via Shutterstock</em></p></div></div></div>

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<p>Tesla Inc. has initiated the process to award CEO Elon Musk with 96 million shares as compensation, emphasizing the importance of retaining him during a critical time for the company. Musk has not received significant compensation since 2017. The shares will have a five-year holding period unless needed for tax payments. The announcement follows concerns over dwindling sales and a Delaware court ruling that overruled Musk's previous $56 billion pay package. Tesla's board will address this at the upcoming annual shareholder meeting in November.</p>

- Tesla Inc. has initiated the process to compensate CEO Elon Musk with over 96 million shares, following a period of no significant compensation since 2017.  
- The company emphasized the importance of retaining Musk as CEO during a critical time for Tesla, despite concerns over dwindling sales in various markets.  
- A Delaware court ruling in 2024 had previously overturned Musk's $56 billion pay package, and the board stated that Musk cannot receive both the new compensation and the reinstated package.  

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Tesla Says Retaining Elon Musk Is 'More Important Than Ever Before' As Company Begins Process To Grant 96 Million Share Stock Award