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Tesla Motors says CEO Musk took $1 in salary last year [April 26, 2014] DETROIT (Reuters) — Tesla Motors Inc <TSLA.O> Chief Executive Elon Musk was paid about $70,000 in 2013 in salary and stock options, only a fragment of what he stands to eventually receive in company stock, Tesla said in a filing on Thursday with U.S. securities regulators. |
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Musk's total cash compensation in 2013
officially was $33,280, which is aligned with the minimum wage
in California, but he only takes $1 per year in pay. The co-founder of the electric carmaker in 2012 was granted the
option to buy 5.27 million Tesla shares at $31.17 over a 10-year
period if he meets a series of performance goals. Tesla shares on Friday were trading down 4 percent at $199.50. Musk, 42, has been the CEO since October 2008 and chairman since
April 2004. Tesla's annual meeting will be held on June 3 in Mountain View,
California. At that meeting, a non-binding vote will be held on
executive compensation. (Reporting by Bernie Woodall; editing by Steve Orlofsky) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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