Tesla CEO Elon Musk has gotten his first payout.
In a regulatory filing on Thursday, Tesla said that CEO Elon Musk had earned the first portion of a huge performance-based stock options package that ties his pay to Tesla's valuation.
Musk was granted 1,688,670 Tesla stock options with an exercise prices of $350.02, according to the filing, and Musk can exercise the options as of today. Under those terms, the stock would net about $780 million based on Thursday's closing price of $805.81. The award was contingent upon Tesla reaching and maintaining a market capitalization of $100 billion.
The performance plan was approved by Tesla's board in 2018. Under the details of the plan, Musk could receive 12 total stock tranches, each equaling 1% of outstanding shares, if he remains at Tesla and meets valuation and operational milestones.
Jim Cramer said that, even if Musk questions the stock price of Tesla again, that he doesn't think that it would impact Tesla's stock price in the long-term.
Watch the full video above for more from Cramer.
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