Tesla awards CEO Musk millions in shares valued at about USD 29 billion
Washington, Aug 4 (AP): Tesla is awarding CEO Elon Musk 96 million shares of restricted stock valued at approximately USD 29 billion, just six months after a judge ordered the company to revoke his massive pay package.
The electric vehicle maker said in a regulatory filing on Monday that Musk must first pay Tesla USD 23.34 per share of restricted stock that vests, which is equal to the exercise price per share of the 2018 pay package that was awarded to the company's CEO.
In December Delaware Chancellor Kathaleen St Jude McCormick reaffirmed her earlier ruling that Tesla must revoke Musk's multibillion-dollar pay package. She found that Musk engineered the landmark pay package in sham negotiations with directors who were not independent.
At the time McCormick also rejected an equally unprecedented and massive fee request by plaintiff attorneys, who argued that they were entitled to legal fees in the form of Tesla stock valued at more than USD 5 billion. The judge said the attorneys were entitled to a fee award of USD 345 million.
The rulings came in a lawsuit filed by a Tesla stockholder who challenged Musk's 2018 compensation package.
That pay package carried a potential maximum value of about $56 billion, but that sum has fluctuated over the years based on Tesla's stock price.
Musk appealed the order in March. A month later Tesla said in a regulatory filing that it was creating a special committee to look at Musk's compensation as CEO.
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Mangaluru: Man sentenced to 20 years rigorous imprisonment in POCSO case
Mangaluru: A court in Mangaluru has sentenced a 44-year-old man to 20 years of rigorous imprisonment in connection with a case under the Protection of Children from Sexual Offences (POCSO) Act.
According to Deccan Herald, the Additional District and Sessions Judge, FTSC-II (POCSO), Maanu K S, delivered the judgment.
The convict has been identified as Dayanand Moolya (44).
According to Special Public Prosecutor Sahana Devi Boloor, the incident occurred on November 16, 2025, when a seven-year-old girl was studying alone at home and the accused illegally entered the house and raped her. He threatened to kill her and throw her into a well if she revealed it to anyone.
The survivor later informed her mother, following which a complaint was registered at Mulki Police Station on November 22. Police Inspector Manjunath B S investigated the case and submitted the charge sheet to the court.
For the rape, under POCSO Section 6, along with Bharatiya Nyaya Sanhita (BNS) Act 65(2) and POCSO 4(2), the man has been sentenced to 20 years of rigorous imprisonment and a fine of Rs 30,000. For illegal entry into the house, under BNS Section 332(B), the convict has been sentenced to three years of simple imprisonment and a fine of Rs 5,000. For issuing death threats, under BNS Section 351(3), he has been sentenced to two years of simple imprisonment and a fine of Rs 5,000.
The court also directed payment of Rs 4 lakh as compensation to the survivor, including Rs 40,000 from the fine amount, and instructed the District Legal Services Authority to provide the remaining Rs 3.60 lakh.
