Elon Musk Qualifies For $700M In Stock Options As Tesla Tops $100B Market Cap Average

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Tesla Inc. (NASDAQ: TSLA) stock has risen enough in recent months to qualify CEO Elon Musk for the first lump sum payment under his stock compensation program, Bloomberg reported Tuesday.

Tesla Meets Performance Goals

The Palo Alto-based company's average trailing market capitalization over six months surpassed $100 billion at the day's close, according to the data compiled by Bloomberg. 

This was one of the provisions under a 2018 agreement made by the Tesla board of directors.

The other conditions for the first of Musk's 12 stock option tranches to be unlocked included the electric vehicles maker hitting an average trailing …

Full story available on Benzinga.com

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