Latest news with #2025CEOInterimAward
Business Insider
6 days ago
- Automotive
- Business Insider
Charged: Tesla ordered to pay $329M in crash case, Musk gets big stock grant
Institutional investors and professional traders rely on The Fly to keep up-to-the-second on breaking news in the electric vehicle and clean energy space, as well as which stocks in these sectors that the best analysts on Wall Street are saying to buy and sell. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. From the hotly-debated high-flier Tesla (TSLA), Wall Street's newest darling Rivian (RIVN), traditional-stalwarts turned EV-upstarts GM (GM) and Ford (F) to the numerous SPAC-deal makers that have come public in this red-hot space, The Fly has you covered with 'Charged,' a weekly recap of the top stories and expert calls in the sector. Click here to check out Tesla's recent Media Buzz Sentiment as measured by TipRanks. AUTOPILOT CRASH CASE: A jury in Miami ordered Tesla pay $329M to victims of a crash involving the company's autopilot driver assist technology, Bernard Condon and David Fischer of Associated Press report. The jury held Tesla significant responsible for the fatal accident because its technology failed, according to the AP. AWARD OF 96M SHARES: In a regulatory filing, Tesla stated, 'As previously disclosed in its quarterly report on Form 10-Q for the three months ended March 31, 2025, the board of directors of Tesla, Inc., a Texas corporation, established a special committee to consider certain compensation matters involving Elon Musk, the company's Chief Executive Officer. The Special Committee is comprised of disinterested directors Robyn Denholm and Kathleen Wilson-Thompson. On August 3, 2025, the company approved an award of 96 million shares of restricted stock to Mr. Musk under the Company's 2019 Equity Incentive Plan. The shares underlying the 2025 CEO Interim Award will be issued upon termination or expiration of the waiting period or periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The 2025 CEO Interim Award was recommended by the Special Committee on August 1, 2025, and approved by the Board, with Mr. Musk and Kimbal Musk recusing, on August 3.' EV SALES: Tesla's sales of China-made electric vehicles fell 8.4% in July from a year earlier, reversing a small increase in June, amid rising competition from rivals offering lower-priced new models, Reuters reports. Deliveries of Tesla's China-made Model 3 and Model Y vehicles, including exports to Europe and other markets, reached 67,886 cars last month, down 5.2% from June, data from the China Passenger Car Association showed on Monday. BUY NIO: Macquarie upgraded Nio (NIO) to Outperform from Neutral with a $5.50 price target. The firm believes the L90 will be Nio's most competitive offering. The L90 is a six-seat large SUV near the price of the five-seat Tesla Model Y, Mcquarie tells investors in a research note. The firm believes the L90 offers better value versus Li Auto's (LI) recent i8, offer a 17% lower entry price and many similar features. It sees potential for the L90 to sell between 8,000-12,000 units per month, solving Nio's core problem of low volumes. JULY DELIVERIES: Nio announced its July delivery results. The company delivered 21,017 vehicles in July. The deliveries consisted of 12,675 vehicles from the company's smart electric vehicle brand Nio, 5,976 vehicles from the company's smart electric vehicle brand Onvo, and 2,366 vehicles from the company's small smart electric car brand Firefly. Cumulative deliveries reached 806,731 as of July 31. XPeng (XPEV) stated, 'XPENG achieved a new record monthly deliveries of 36,717 Smart EVs in July, representing a year-over-year increase of 229% and marking the Company's ninth consecutive month surpassing 30,000 deliveries. This brings the Company's cumulative total deliveries to over 800,000 units as of July 2025. In the first seven months of 2025, XPENG delivered 233,906 Smart EVs, a 270% increase compared with the same period last year. In mid-July, XPENG launched the 2025 versions of XPENG G6 and G9 in European markets and announced the XPENG P7+'s upcoming launch in Europe, bolstering XPENG's robust growth trajectory in this region. With the XPENG brand entering the UK, Italy, Ireland and other new markets in the first half of 2025, XPENG has now established a presence across 46 countries and regions worldwide. XNGP achieved a monthly active user penetration rate of 86% in urban driving in July 2025. XPENG recently rolled out the latest version of Tianji XOS, introducing its human- AI co-pilot experience, customized self-parking feature, enhanced AEB and more. Meanwhile, Li Auto announced that it delivered 30,731 vehicles in July. As of July 31, Li Auto's cumulative deliveries reached 1,368,541. The company officially launched Li i8, a six-seat battery electric family SUV, on July 29 and expects to begin deliveries on August 20. Zeekr also announced its delivery results for July. In July, Zeekr Group delivered a total of 44,193 vehicles across its Zeekr and Lynk & Co brands, representing increases of 19.7% year-over-year and 2.7% month-over-month. This achievement was made possible by the trust and support of over 2M cumulative users. Specifically, the Zeekr brand delivered 16,977 vehicles, while Lynk & Co delivered 27,216 vehicles.
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Business Standard
7 days ago
- Automotive
- Business Standard
Elon Musk gets $29 billion stock award from Tesla under interim pay plan
Electric vehicle (EV) maker Tesla on Monday said it has approved the grant of 96 million shares, valued at approximately $29 billion, as part of an interim stock award to Chief Executive Officer (CEO) Elon Musk. The stock award, referred to as the '2025 CEO Interim Award,' was approved by Tesla's board on August 3. The shares will vest two years from the grant date, provided Musk remains in continuous service as CEO or in an approved senior executive role at the company, the company said in a Securities and Exchange Commission (SEC) filing. The move follows a 2024 ruling by a Delaware court that invalidated Musk's 2018 compensation package—worth more than $50 billion—on the grounds that the Tesla board's approval process was flawed and unfair to shareholders, reported Reuters. The ruling is currently under appeal before the Delaware Supreme Court. 'A deal is a deal': Tesla board In a letter to shareholders, Robyn Denholm and Kathleen Wilson-Thompson — the two directors who constitute Tesla's special committee — wrote, 'We believe we must take action to honour the bargain that was struck in 2018. After all, 'a deal is a deal.' Thus, as evidence that Tesla is committed to honouring its promises in the 2018 CEO Performance Award and intends to compensate its CEO for his future services commensurate with his contributions... we have recommended this award as a first step, 'good faith' payment to Elon.' Musk, who has led Tesla since 2008, is the company's largest shareholder, holding approximately 13 per cent of its shares, according to Reuters. He recently told Bloomberg that he remains committed to leading the company for at least another five years. "While we recognize that Elon's business ventures, interests and other potential demands on his time and attention are extensive and wide-ranging, including his leadership roles at xAI, SpaceX, Neuralink, X Corp., and The Boring Company as well as his other interests, we are confident that this award will incentivise Elon to remain at Tesla and focus his unmatched leadership abilities on further creating shareholder value for Tesla shareholders and attracting and retaining talent at Tesla. To be clear, losing Elon would not only mean the loss of his talents but also the loss of a leader who is a magnet for hiring and retaining talent at Tesla," the company said.
