DETROIT, April 25 Tesla Motors Inc
Chief Executive Elon Musk was paid about $70,000 in 2013 in
salary and stock options, only a fragment of what he stands to
eventually receive in company stock, Tesla said in a filing on
Thursday with U.S. securities regulators.
Musk's total cash compensation in 2013 officially was
$33,280, which is aligned with the minimum wage in California,
but he only takes $1 per year in pay.
The co-founder of the electric carmaker in 2012 was granted
the option to buy 5.27 million Tesla shares at $31.17 over a
10-year period if he meets a series of performance goals.
Tesla shares on Friday were trading down 4 percent at
Musk, 42, has been the CEO since October 2008 and chairman
since April 2004.
Tesla's annual meeting will be held on June 3 in Mountain
View, California. At that meeting, a non-binding vote will be
held on executive compensation.
(Reporting by Bernie Woodall; Editing by Steve Orlofsky)