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CEO Elon Musk was awarded an interim pay package of 96 million shares of the company over the weekend. The shares would be worth about $29 billion.
Tesla stock climbed about 2% Monday.
The company said in a filing Sunday that the pay package would vest in two years as long as Musk continued as CEO or in another key executive position.
The new award would be forfeited if the legal battle over his 2018 compensation ends with Musk being able to exercise the larger pay package, which was valued at $56 billion.
