January 23, 2018 / 8:46 AM / 6 months ago

Tesla says CEO Musk to get paid only when company performs well

Jan 23 (Reuters) - Tesla Inc said on Tuesday its Chief Executive Elon Musk will receive no guaranteed compensation of any kind, and that he will be paid only if Tesla and all of its shareholders do extraordinarily well.

The compensation will be based on a performance award, which will be based on a combination of market capitalization and operational milestones, Tesla said in a statement.

Reporting by Shubham Kalia in Bengaluru; Editing by Gopakumar Warrier

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