Tesla Inc. has granted Chief Executive Officer Elon Musk 96 million restricted shares—valued at roughly US$29 billion at Monday’s pre-market price—in an interim compensation plan disclosed in an SEC filing. The “2025 CEO Interim Award” will vest after two years provided Musk remains in a senior leadership role, and the shares cannot be sold or transferred for five years. Musk must pay US$23.34 for each share, mirroring the strike price of his 2018 package. The award will be forfeited if courts ultimately reinstate that earlier plan, preventing a double payout. The move follows a Delaware Chancery Court decision in January 2024 that voided Musk’s US$56 billion 2018 pay deal for being unfairly negotiated; the case is now before the state’s Supreme Court. Tesla’s board—through a special committee led by Chair Robyn Denholm and director Kathleen Wilson-Thompson—said the new grant is a “good-faith” step to retain Musk as competition for artificial-intelligence talent intensifies. Tesla shares rose about 2% to roughly US$310 in pre-market trading on the news, though they remain down about 25% so far this year. Wedbush analyst Dan Ives said the award removes an overhang and secures Musk’s leadership through at least 2027.