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Tesla’s performance reaches its target Musk receives $11 billion in option awards

For investors who are optimistic about the prospects of the electric car market, and for Musk, this is the best time. Since last year, the global new energy automobile industry has ushered in explosive growth.

Take Tesla as an example.

Last year’s annual sales were close to 500,000, but its market value has become the world’s highest car company. Today its market value is as high as 708.6 billion U.S. dollars, more than three times that of Toyota, which has annual sales of more than 10 million vehicles.Such a magical thing is happening in the new energy automobile industry.

In the morning news on April 27,

Tesla officially announced the first quarter of 2021 financial report.

Tesla said that in the first quarter it achieved the highest ever recorded production and deliveries.GAAP net profit reached 438 million U.S. dollars, and non-GAAP net profit exceeded 1 billion U.S. dollars for the first time.

Tesla’s GAAP operating profit in the first quarter was US$594 million,

with an operating profit margin of 5.7%; GAAP net profit in the first quarter was US$438 million, and non-GAAP net profit (excluding share-based payment expenses) was US$1.1 billion; The quarterly share payment fee was $614 million.

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What makes Musk even more excited is that Tesla’s first-quarter earnings performance released on Monday has reached the target set by the board of directors.Makes CEO Elon Musk eligible for two option awards with a total value of 11 billion U.S. dollars (approximately RMB 71.3 billion).

Tesla’s revenue in the first quarter was $10.39 billion,

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was 1.84 billion U.S. dollars, exceeding the goal of triggering Musk’s fifth and sixth batches of options.

Tesla granted 12 batches of options to Musk in 2018, but it needs to meet performance targets before they can be vested. Each batch of options allows him to purchase 8.4 million Tesla shares for $70 per share, a discount of more than 90% from the current stock price.

Based on Monday’s closing price of $722, the stocks in the first six batches of options will create nearly $34 billion in profits for Musk,

or nearly $6 billion in each batch. Tesla said in its earnings report on Monday that it will bear $299 million in expenses related to Musk’s salary.

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It is reported that as early as a few years ago at Tesla’s shareholder meeting,To determine Musk’s salary plan for the next ten years, Musk does not have any salary or cash bonus.

As long as he can lead Tesla to achieve many expected goals, he can obtain approximately 12% of Tesla’s shares outstanding on January 19, 2018. Today, as Tesla’s market value continues to rise, Musk is also advancing on the road of creating personal wealth.

V#duzline #Tesla #Musk

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