Tesla’s board has approved an interim compensation package that grants Chief Executive Officer Elon Musk 96 million restricted shares, valued at roughly $29 billion at Monday’s pre-market price, according to a regulatory filing. The stock vests after two years provided Musk remains in a senior leadership role and must be held for at least five years once granted. Musk will pay $23.34 for each share—matching the exercise price of his voided 2018 award—and may not sell the stock during the holding period except to cover taxes or the purchase price. The grant is designed to increase his voting power but will be forfeited if courts fully reinstate the earlier plan, preventing what the company called a “double dip.” Directors said the “good-faith” award is meant to keep Musk focused on Tesla as the automaker shifts toward autonomous driving, robotics and artificial-intelligence initiatives. A Delaware chancery judge struck down Musk’s previous $56 billion performance award in 2024, ruling the board’s process was flawed; Tesla has appealed that decision. Musk already owns about 13 percent of the company. Tesla shares rose roughly 2 percent in pre-market trading following disclosure of the new package.