Tesla’s six-month average trailing market capitalization hit $150 billion on Tuesday after a four-month run up of the automaker’s share price that theoretically unlocks a multi-billion-dollar vesting option for CEO Elon Musk.
Once Tesla hit the six-month average trailing market cap of $150 billion, which Reuters first reported, Musk became eligible to access the second of 12 levels of options granted to him in an unprecedented pay package approved by shareholders in 2018. The board must still certify the milestone before the vesting option is triggered.
The milestone was met the day before Tesla is scheduled to report its second-quarter earnings.
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