“It’s called compensation, but it’s not like I’m going to go spend the money,” Musk added. “It’s just, if we build this robot army, do I have at least a strong influence over that robot army, not current control, but a strong influence? That’s what it comes down to in a nutshell. I don’t feel comfortable wielding that robot army if I don’t have at least a strong influence.”
Musk conceded that having voting control in the “mid-20s” per cent range would help secure a “strong influence,” but gives shareholders enough control to fire him if he goes “insane.”
At the time of the announcement, Tesla stock price was down roughly 10% for the year, and the board felt the long-term CEO performance award would “retain and incentivize Elon to focus his energies.”
Since then, Tesla’s stock has rebounded, now up more than 15% year-to-date.
