00:00It's Benzinga, bringing Wall Street to Main Street
00:02Tesla's board of directors has earned more than $3 billion from stock awards,
00:07far exceeding peer compensation at other major U.S. technology firms,
00:11according to an Equilar analysis for Reuters. The gain stemmed largely from stock options
00:15granted between 2018 and 2020 that surged in value as Tesla shares rose.
00:21Even with director pay suspended starting in 2021 to settle a shareholder lawsuit,
00:26Tesla directors averaged $1.7 million annually from 2018 to 2024,
00:32more than double the next highest Magnificent 7-peer. Governance experts told Reuters the
00:37unusually large option-based awards could undermine board independence,
00:41while Tesla said compensation is tied to stock performance and shareholder value.
00:45For all things money, visit Benzinga.com.
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