Tracking progress towards the 2025 CEO Performance Award
Elon Musk's 2025 compensation plan is designed to reward long-term value creation for Tesla shareholders. It consists of 12 tranches of about 35 million shares each, unlocking shares based on achieving specific market capitalization targets and operational milestones. The plan requires hitting both a market cap milestone and an operational milestone for each tranche to be awarded, in any order.
One leg of the plan focuses on market capitalization growth, with targets ranging from $2T to $8.5T.
The other leg involves achieving any of 12 operational milestones, such as delivering 20M vehicles, reaching 10M FSD subscriptions, producing 1M robots, or hitting specific EBITDA levels. Only one milestone per tranche is needed, and they can be completed in any order.
20M Vehicles
10M FSD Subs
1M Bots
1M Robotaxis
EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It measures a company's overall financial performance and profitability.
8 targets: First 5 at $50B, $80B, $130B, $210B, $300B. Last 3 at $400B over 4 consecutive quarters (non-overlapping periods).
News & Discussions