DETROIT — Tesla confirmed Thursday that CEO Elon Musk will get the first tranche worth nearly $770 million of a stock-based compensation package triggered by the company meeting several financial metrics.
The electric car and solar panel maker’s board certified that Musk earned the big payout, according to a filing with the U.S. Securities and Exchange Commission. The filing says Musk can buy 1.69 million shares of Tesla stock for $350.02 each, but it wasn’t clear whether he had exercised the stock options. His payout is based on the difference between the option price and Thursday’s closing share price of $805.81.
Musk earned the options as part of an audacious compensation package approved by the board in 2018.
According to the filing, the board certified that Tesla had reached the milestones by hitting $20 billion in total revenue for four previous quarters and a total market value of $100 billion. The company also reached $1.5 billion in adjusted pretax earnings, but that must still be certified by the board, the filing said.
Musk has to hold the stock for a minimum of five years, under the terms of the compensation package.
Musk can afford to wait before cashing in on his latest windfall, given his wealth is estimated at $39 billion by Forbes magazine.
All told, the incentives approved by Tesla’s board in 2018 consist of 20.3 million stock options that will be doled out in 12 different bundles if the company is able to reach progressively more difficult financial goals. It’s one of the biggest corporate pay packages in U.S. history.
In order for Musk to receive all 20.3 million stock options, Tesla will have to generate adjusted annual earnings of $14 billion on annual revenue of $175 billion coupled with a market value of $650 billion. In the past four quarters, Tesla, which is based in Palo Alto, California, has reported adjusted earnings totalling $3.6 billion on revenue totalling $26 billion.
The Associated Press
How Local Photographer Captured These Stunning Images Of Comet NEOWISE In Skies Over Peterborough – PTBOCanada
Comet NEOWISE has been lighting up the early morning skies around the globe this month and Peterborough photographer Jay Callaghan was up bright and early on Thursday (July 9th) to capture it.
Currently NEOWISE is roughly 141 million kilometres from Earth and is gradually making its way closer to our planet as each day passes. The best time locally to see the comet has been in the early morning hours before sunrise, so in the wee hours, around 3:30 a.m., Jay was out capturing stunning images from the top of Armour Hill of the comet as well a great shot over Little Lake with the planet Venus to the right.
“Locating the comet can be a bit of a challenge but with use of websites dedicated to the comet, such as The Sky Live as well as Sky Map app for Android phones, I was able to pinpoint when and where the comet would be when it rose at 2:59 a.m. this morning,” Callaghan tells PTBOCanada.
”Once the location is known, it was easy to find the comet and even see it with the naked eye,” he adds. “The humidity on the horizon made it a bit difficult to see at first but the camera had no issue capturing it.”
Callaghan, known for his beautiful pictures of the outdoors and wildlife in the area and for tweeting—and stormchasing—about the weather locally, used a Canon 80D and Sigma 18-35 and 70-200 lens to take the comet photos.
“The shots ranged in exposure times of anywhere from 1-6 seconds depending on the amount of light as well as other settings on the camera (ISO, aperture, etc),” he tells PTBOCanada.
For those interested in viewing the comet, here’s what Callaghan recommends:
-> As the comet gets closer to earth, the chances of seeing it after sunset will increase but unfortunately, at this time, it appears that the magnitude (or brightness) of the comet looks to be getting lower so the sooner you can get out to see it the better.
-> Make sure to visit the The Sky Live website, enter in your location and keep an eye on the rise and set times of the comet, as well as what constellation it will be residing in, for a chance to catch a glimpse.
-> Your best bet is to get away from city lights and don’t forget the binoculars and camera.
-> The comet will make its closest approach to Earth on July 23rd when it will be approximately 103 million kilometres away and then will slowly disappear from our view.
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CBC Edmonton puts your COVID-19 questions to Dr. Mark Joffe of Alberta Health Services – CBC.ca
It’s been more than 16 weeks since Alberta was plunged into the COVID-19 pandemic.
Sixteen long weeks, from early spring into early summer. For many of us, that’s 16 weeks of work-from-home, school-from-home, shop-from-home — and sometimes, worry-from-home.
Restrictions are easing and there’s a semblance of a return to the way things were. But as this week’s outbreak at Edmonton’s Misericordia Community Hospital shows us, COVID-19 is still very much a threatening presence for Albertans.
Join us here at 11 a.m. MT as Edmonton News at 6 host Nancy Carlson puts your questions about COVID to Dr. Mark Joffe, an Alberta Health Services vice-president and medical director for northern Alberta.
To submit questions, tune into the broadcast on the CBC Edmonton Facebook page.
NASA remembers STS-135 mission: Plans to send the first woman to Moon in 2024 – TechGenyz
Almost nine years back America was basking in the glory of witnessing the historic landing of Atlantis on July 21 for the final time at 5 a.m. in the morning near NASA’s Kennedy Space Center. Set out on July 8, Atlantis had been the final flight for Space Shuttle Programme, on the STS-135 mission. The mission was headed by commander Christopher Ferguson, pilot Douglas Hurley along with specialists Sandra Magnus, and Rex Walheim.
STS-135, the 33rd flight was set off to carry the Raffaelo multipurpose logistics module, aiming to supply logistics, spare parts to the International Space station. The purpose was also to investigate the refueling of existing spacecraft and bring for improvisation in the upcoming systems.
In remembrance of the last mission, NASA made a post on their official website. It has already started preparing for the upcoming mission that is to take place in 2024 in order to expedite the Moon. Artemis will see the first woman on the moon and next man on the Moon by 2024.
As per the space agency, it will use innovative technologies to explore more of the lunar surface than ever before. The primary objective of the mission is to explore the moon’s surface and create sustainable missions to the Earth’s satellite by 2028.
The Artemis lunar exploration program will focus on a strategic expansion of America’s global economic impact and progressing as a leader by advancing better demonstrations and business approaches. It will conduct two missions headed by Artemis I and Artemis II.
As the name suggests, Artemis, from the Greek goddess of Moon will not merely set out for an expedition to the moon but will be observing life at other celestial bodies for a future mission to Mars.
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