Tesla investor and former 'fanboy' suggests Elon Musk is purposely tanking the stock
Musk's pay package centers on a series of goalposts around the carmaker's financial growth which was set in place in 2018. Specifically, the plan involves a 10-year grant of 12 tranches of stock options, which are vested when Tesla hits certain targets. When each milestone is passed, Musk gets stock equal to 1% of outstanding shares at the time of the grant. The company has since surpassed the metrics.
"Because Musk achieved all Market Cap milestones in 2021, he no longer had any incentive under the compensation plan to maximize shareholder value," Lagetko tweeted."He had every incentive to see the stock lower or to pursue personal aspirations knowing he had a massive slug of fresh options coming which he could exercise when the shares are trading as low as possible."
Musk, KoGuan, and Lagetko did not respond to a request for comment from Insider ahead of publication. On Friday morning, Tesla stock was trading around $105 per share, its lowest since August 12, 2020, amid slowing demand from
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