package for Tesla Motors CEO Elon Musk consists almost entirely of stock options
that vest over ten years, provided certain targets are met. Shares of the Palo
Alto, California-based electric car company are up 271 percent this year,
giving Tesla a market value of $15 billion.
Tesla's board of
directors said Musk, who has a fortune worth about $6.8 billion, deserves a generous
incentive package because the company wants to "appropriately reward the
CEO’s previous and current contributions and to create incentives for the CEO
to continue to contribute significantly," according to a public filing.