07:09 AM EDT, 09/05/2025 (MT Newswires) -- Tesla (TSLA) has proposed a new performance award for CEO Elon Musk of nearly $1 trillion, a proxy statement from the company showed Friday.

To be eligible for the full payout, Tesla would have to meet a series of targets, including raising the company's market capitalization to $8.5 trillion, reaching an adjusted EBITDA target of $400 billion, and hitting a production target of 20 million vehicles over 10 years.

If approved, Musk would own roughly 423.7 million common shares in the company, representing 12% of the adjusted share count.

The proposal also requests the company's board for approval to invest in Musk's xAI startup.

Shares of Tesla added more than 1% in recent premarket activity Friday.

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