Poor Elon Musk. After getting more than $78 million in options, the founder of Tesla Motors (TSLA) was paid just $69,989 in options and cash in 2013, according to a filing today.
REUTERS Bloomberg explains:
Musk's large option award in 2012 was intended as compensation over a 10-year term, based on achieving specific goals, the company said in the filing. Those include the market capitalization reaching $43.2 billion within a decade; it's $25.8 billion now and was $3.9 billion at the end of 2012.
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To get the full value, Tesla also must expand its lineup with the Model X sport-utility vehicle, a lower-priced sedan, and raise its electric vehicle production to 300,000 units annually with Musk still at the company.
Of course, he does own 23% of the shares in the $25.6 billion company. Tesla dropped 3.9% to $199.85 today.
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