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.
Source: Tesla’s Musk earns
Edited By Harry Miller
Full buck moon with a lunar eclipse visible this weekend – BC News – Castanet.net
British Columbians were treated to a glorious full Strawberry Moon this June, but they’ll have the opportunity to view a magnificent full Buck Moon this July in addition to a lunar eclipse.
Named after the time of year when young bucks begin to grow new antlers from their foreheads, the July full moon marks a time of renewal. The full Buck Moon will be at its fullest on July 4.
As the full moon increases in fullness, British Columbians will also be able to view a “penumbral lunar eclipse.” Timeanddate.com explains is set to begin July 4 at 8:07 p.m. but that it won’t be directly visible at that time.
At 9:22 p.m., “it will be rising but the the combination of a very low moon and the total eclipse phase will make the moon so dim that it will be extremely difficult to view until moon gets higher in the sky or the total phase ends.”
The moon will be closest to the centre of shadow at 9:29 p.m. (-0.644 Magnitude). It will end at 10:52 p.m.
During this penumbral lunar eclipse, the Earth’s main shadow does not cover the Moon.
How to watch the Fourth of July weekend's "buck moon" lunar eclipse – CBS News
Fourth of July celebrations look a little bit different this year due to the coronavirus pandemic, but skywatchers are still in for a special Independence Day treat. The weekend brings not only a full moon, but also a lunar eclipse.
The “buck moon” lunar eclipse will be visible the night of July 4 into the morning of July 5. Viewers across most of North and South America, as well as parts of southwestern Europe and Africa, will be able to spot the celestial phenomenon.
The event will be a penumbral eclipse, not a total lunar eclipse, meaning part of the moon will pass through the outer part of Earth’s shadow.
According to The Old Farmer’s Almanac, July’s full moon is called the “buck moon,” because early summer is when male deer grow new antlers. It’s also called the thunder moon — because of summer storms that occur in July — the guru moon and the hay moon.
According to NASA, the full moon will peak early Sunday morning, at 12:30 a.m. EDT. At that time, about 35% of the moon will be in the partial shadow.
The full moon peaks just a few minutes later, appearing opposite the sun at 12:44 a.m. EDT. However, it will appear full all weekend, from Friday evening into Monday morning.
Clear skies will reveal the moon in all its glory, but moon gazers may need the help of a telescope or binoculars for the full effect. It’s also possible the events could be overshadowed by Fourth of July fireworks across the U.S. — despitefrom officials.
Not only does the Fourth of July weekend mark a full moon and lunar eclipse, it also highlights the closest grouping of Saturn, Jupiter and the moon, forming a triangle of celestial celebration.
Industry, mild winters clear way for white-tailed deer 'invasion' in Alberta's boreal forest – CBC.ca
Herds of invasive white-tailed deer continue to migrate north in Alberta’s boreal forest — bolstered by milder winters and human development that cuts through the vast wilderness, a new study suggests.
The survey, recently published in the journal Nature, used 62 trail cameras to track the movements of white-tailed deer near Fort McMurray, Alta., over three years.
It’s a “deer invasion,” said Jason Fisher, study author and wildlife ecologist at the University of Victoria.
“They’re all over the landscape,” Fisher said. “They’re expanding their range. And because they’re having these negative effects on the ecosystem, they could definitely be considered invasive.”
The cameras captured more than 141,000 images, and white-tailed deer appeared in 80 per cent of them. The survey makes clear that deer are now, by far, the most prevalent large mammal in the habitat, Fisher said.
“We’re kind of feeling around in the dark. But them being there in the numbers they currently are is definitely new, it’s definitely increased, and it’s gotten a lot worse over the last decade.”
‘Deer don’t really belong in that landscape’
Deer are not native to the boreal forest and their populations are thriving, often at the expense of other species, including fragile populations of woodland caribou, Fisher said.
The deer create imbalances in the natural food chain. The herds compete with other animals, devouring the boreal forest’s limited grazing lands. Their presence also draws more predators such as wolves to the area.
It’s like a caribou, white-tailed deer teeter-totter with wolves as the fulcrum.– Jason Fisher
“The deer don’t really belong in that landscape,” Fisher said. “They’re not evolved to move quickly over snow the way that caribou are, and so they’re easy targets for wolves.
“With all these white-tailed deer around, that’s pushing wolf numbers up. With more wolves around, they’re hitting caribou harder.
“It’s like a caribou, white-tailed deer teeter-totter with wolves as the fulcrum. And that’s the big problem.”
Historically confined to the Eastern Seaboard, deer have been expanding their territory across the continent since European colonization. First they followed farmers, occupying open areas created when land was cleared of trees.
In their move north, they followed humans again, taking advantage of open grazing areas created by seismic lines and other industrial developments that cut through the thick bush.
“As agriculture swept across North America, white-tailed deer have come with it,” Fisher said. “The increase we’re seeing here in Alberta now is basically the continuation of that process. Alberta has had deer in the south ever since we’ve had agriculture. But the move north is a pretty recent phenomenon.”
The study area — 3,000 square kilometres of white and black spruce, aspen, Jack pine and muskeg — is marked by extensive oil and gas development, logging roads, off-road trails and seismic lines. Deer have only been in the area for a couple of decades, Fisher said.
Aerial surveys done by the province provide some information on local populations, Fisher said, but his team wanted to better understand the animals in relation to the weather and the landscape.
According to the thousands of images captured by their cameras, deer were most numerous in areas touched by human development, he said.
During the three-year study, the severity of winter fluctuated. Populations would soar after a mild winter, but even after a “biblical” second winter, herd numbers appeared relatively untouched, he said.
‘This isn’t fully a climate-change problem’
Climate change and landscape change are working in tandem to drive the deer invasion, Fisher said. But the loss of mature forest to oil and gas development in the area is the biggest driver, he said.
The altered landscape has given the animals access to new foraging grounds, allowing them to withstand harsh seasons when they might normally starve, Fisher said.
In an ongoing follow-up study he is overseeing in the Richardson Backcountry, an untouched swath of wilderness north of Fort McMurray, deer numbers are sparse.
With milder winters expected and more development encroaching into the boreal habitat every year, white-tailed deer territory will only continue to grow, Fisher said.
“This isn’t fully a climate-change problem,” he said. “As long as there is ongoing disturbance in the landscape without restoration, then the white-tailed deer are going to be there.”
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