Feb 12, 2018
David Teigman comments on Tesla CEO Elon Musk’s aggressive 10-year performance plan announced by the board in January. Pending the plan’s approval, Musk could be entitled to a total of $55 billion over 10 years. However, to be entitled to the payout he must meet a series of aggressive market capitalization, revenue and adjusted EBITDA targets tied to 12 tranches of stock options.
Excerpts from “Tesla Pay Plan Offers Big Vision: Experts,” Agenda/Financial Times, February 12, 2018:
David Teigman, a partner in the executive compensation, benefits and Erisa practice at Cadwalader, Wickersham & Taft, says options can be attractive to companies that are short on cash.
Teigman says companies must master the “balancing act” between looking at the long term while also remaining nimble. “Going past three to five years is difficult because companies want to remain nimble and the business itself could change. If the business changes, the board needs the rest of the compensation plan to have different goals to align with those business changes,” Teigman says.
The Bank of England has initiated a review of its own exposure to LIBOR,
Scott Cammarn, Jonathan Watkins, Mark Chorazak, Aaron Lang
On 7 June 2019, Regulation (EU) 2019/876 (CRR II) was published in the Official Journal of the EU.