Tesla has filed an S-8 registration statement with the SEC to register 303,960,630 shares of common stock for CEO Elon Musk under his 2018 pay package. At today’s share price of ~$376, those shares are worth over $114 billion.

 

The filing confirms what many expected after the Delaware Supreme Court restored the award in December: the years-long legal fight over the largest executive compensation deal in corporate history is officially over.

 

The 2018 CEO Performance Award was designed as an all-or-nothing bet. Tesla’s board granted Musk options to buy 304 million shares (split-adjusted) at $23.34 per share, contingent on Tesla hitting 12 escalating market cap and operational milestones. Musk reached the final milestone in December 2021.