According to Reuters, two people who have read Tesla’s internal memorandum revealed that Tesla CEO Elon Musk revealed to employees at an internal meeting on June 17 that Tesla is developing a stock-based compensation plan for outstanding employees.
Source: Tesla, Musk recently conveyed an important message to employees in an internal email: “In the next few weeks, Tesla will conduct a comprehensive evaluation and provide stock options to employees who perform well.
” Tesla is also planning to grant spot options to employees who have made outstanding contributions.
Thank you for everything you have done for Tesla’s success.
” The news was disclosed by two people involved in the assessment in China and the United States, but they declined to disclose their names because the memorandum is for internal use only.
The announcement comes as Tesla is undergoing a series of changes.
Two months ago, Musk announced that Tesla would lay off employees, accounting for more than 10% of Tesla’s global workforce.
At the same time, Musk’s $56 billion compensation plan was also approved by Tesla shareholders during this period.
The compensation plan consists mainly of stock options and is designed to encourage Musk to better lead Tesla and drive the company’s share price up.
Tesla did not immediately respond to a Reuters request for comment.
According to people familiar with the matter, last year, Tesla canceled performance-based stock awards to employees after sharply cutting prices in order to boost demand and resist competition, which damaged the company’s profit margins.
Tesla’s share price has plunged 25% since the beginning of 2024, and the company has also warned that sales will slow significantly.
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