Tesla files to deliver 304m shares for Musk

Tesla filed paperwork to deliver Elon Musk’s 2018 pay package, registering 303,960,630 Tesla shares under a Form S-8 filed on April 24. (sec.gov) The filing says the shares are issuable to Musk under the 2018 CEO Performance Award granted on January 21, 2018. Tesla’s investor relations site lists the S-8 as filed April 24, 2026. (sec.gov) (ir.tesla.com) Tesla said in the S-8 that Musk and the company entered an implementation agreement on April 21, 2026. The filing registers the stock for delivery after years of litigation over whether the award would stand. (sec.gov) The package was originally structured as an option award, not cash salary. Tesla’s 2018 grant gave Musk the right to buy split-adjusted shares at $23.34 each if Tesla hit a series of market-value and operating milestones. (electrek.co) Those milestones were met years ago, but the payout was blocked in Delaware court before being restored on appeal in December 2025. A Harvard Law School Forum summary of the ruling says the Delaware Supreme Court reversed the rescission of the 2018 grant. (corpgov.law.harvard.edu) (paulweiss.com) The numbers are much larger now than when the package was first described as worth $56 billion. Electrek calculated that 303,960,630 shares at roughly $376 each imply a value above $114 billion at current prices. (electrek.co) Tesla had also created a separate interim award in 2025 while the appeal was pending. In its recent quarterly disclosures, the company said that interim package was revoked on April 21 so Musk would not receive both awards. (techcrunch.com) (stocktitan.net) A recent ownership filing shows how the restored award changes Musk’s stake on paper. The filing says his beneficial ownership includes 303,960,630 option shares exercisable within 60 days of April 21, 2026, alongside 413,152,109 shares held by his revocable trust. (stocktitan.net) The April 24 registration does not create a new pay deal. It turns a reinstated 2018 award into registered shares Tesla can now issue, closing the corporate paperwork after the court fight. (sec.gov)