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Tesla drops Musk’s $29B ‘interim’ award after Delaware court restored larger pay package

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Tesla has revoked the “interim” pay package worth $29 billion that it gave its CEO Elon Musk last year, after the Delaware Supreme Court recently restored his larger $56 billion compensation award from 2018.

The company had given Musk the interim package in August 2025 to hedge against the possibility of Delaware’s highest court rejecting his appeal. Tesla had explained to investors that the interim package would be voided should Musk prevail. “[T]here cannot be any ‘double dip’,” the company wrote last year.

Sure enough, Tesla confirmed in its quarterly filing with the Securities and Exchange Commission on Thursday morning that it spiked the interim award on April 21. Tesla said that the board voted without Musk or his brother (and fellow director) Kimbal Musk.

“These actions are consistent with the ‘no double dip’ principle, which precludes Mr. Musk from getting a windfall in the event that he may exercise the 2018 CEO Performance Award,” Tesla wrote in the filing.

Tesla granted the $56 billion package to Musk in 2018, and it was challenged in court by a shareholder who accused the CEO of essentially negotiating against himself in designing it, and not properly informing shareholders of this. That case took years to play out in Delaware’s Chancery Court before a judge ultimately decided in 2024 that the plaintiff was right, and struck down the pay package.

Tesla waged a public affairs campaign while it appealed the judge’s decision to the state’s supreme court. That included “re-voting” on the package to ostensibly prove that shareholders weren’t duped. Musk, meanwhile, threatened to leave Tesla altogether to develop artificial intelligence elsewhere. This spurred Tesla’s board to draw up the $29 billion award as a hedge, and also work on a much larger and far more ambitious compensation package worth up to $1 trillion.

The revocation of this interim award has no impact on Musk’s $1 trillion package. To access that full amount, Musk has to lead Tesla through a number of operational milestones (like deliver 20 million vehicles and a million robots, and put one million robotaxis on the road), and increase its valuation to more than $8 trillion over the course of 10 years.

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Interestingly, Tesla explained in the quarterly filing that it is starting to make its own estimates about what milestones Musk might and might not achieve. The company doesn’t specify which one it thinks Musk will accomplish, but wrote that it has “unrecognized stock-based compensation expense of $9.97 billion for the operational milestone that was considered probable of achievement over the term of the award.”

The company went on to say that it has unrecognized stock-based compensation expense of between $105.82 billion to $120.37 billion for the “operational milestones that were considered not probable of achievement,” though it did not specify which milestones it meant.

While Musk has 10 years to accomplish all of the goals tied to the trillion-dollar package, many of these operational milestones are watered down versions of promises he’s previously made. Yet, it seems Tesla itself isn’t sure he’ll be able to execute at least a few.

Tesla also explained in the filing that its board of directors has decided to put up some barriers on how and when Musk can sell shares from the now-restored 2018 package “to mitigate any negative impact of significant share sales on the Company.”

Those restrictions appear to track some of the more general ones laid out in the $1 trillion pay package. They dictate Musk has to remain CEO or a product development executive at the company through at least 2028 for the shares to vest, and require him to hold the shares for five years.

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Osun Poll: Adeleke, APC clash over police interference, voting disruption plot allegations

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Osun State Governor Ademola Adeleke, and the All Progressives Congress, APC, have exchanged accusations over alleged police interference, political protests and plans to disrupt voting ahead of Saturday’s governorship election.

The latest dispute followed separate statements issued on Monday by the Imole Campaign Council, TICC, which is backing Adeleke’s re-election bid, and the Osun APC Governorship Campaign Council.

Both sides accused the other of attempting to manipulate security and electoral institutions ahead of the August 15 poll.

TICC in separate statements by Bamidele Salam, Chairman, Media and Publicity Committee and Pelumi Olajengbesi, spokesperson, rejected the APC’s allegation that Adeleke was planning to blackmail the Nigeria Police Force through a protest by hired women, describing the claim as unfounded.

The campaign council alleged that the APC had used the police to intimidate and harass political opponents during the election period. It further claimed that at least six of its members had been killed and several others injured during political violence.

“It is nothing but mischief for the APC that has unleashed unimaginable violence on Osun people, killing no fewer than six of our members, to turn around to blame the victim,” TICC said.

The council also alleged that more than 60 Accord Party members had been arrested by the police without justification, while accusing the security agency of treating APC members involved in alleged violence differently.

TICC claimed that “some Accord members had been arrested from their homes and alleged that security personnel had escorted suspected political thugs.”

It cited a viral video which it said appeared to show a police operative handing a firearm to a political thug in Ilesa.

The campaign council called on Inspector-General of Police, Tunji Disu, to intervene and ensure what it described as fair and neutral policing before the election.

“We totally reject the overt attempt by the Police to influence the August 15 governorship poll through coercion and unlawful arrests of Accord leaders and members,” the council said.

Separately, TICC alleged that the APC was pressuring the Independent National Electoral Commission, INEC, to end voting by 12pm in selected local government areas during Saturday’s election.

According to the campaign council, the alleged plan targeted areas considered political strongholds of Adeleke, with the aim of suppressing votes and disenfranchising eligible voters.

“We therefore call on INEC to resist every form of political pressure and strictly adhere to its established voting procedures and timelines,” TICC spokesman Pelumi Olajengbesi said.

The council urged INEC to ensure that no polling unit was arbitrarily closed while eligible voters who arrived within the stipulated voting period were waiting to vote. It also called on election observers, civil society organisations, international bodies and the media to monitor the process.

The APC, however, dismissed the allegations against it and accused Adeleke and the Accord Party of attempting to blackmail the police through a planned protest involving vulnerable women.

The APC campaign council in a statement by Engr Oluremi Omowaiye
Head, Media and Publicity Committee, alleged that some women had been recruited to protest at the Osun State Police Command headquarters in Osogbo, claiming some had been instructed to protest half-naked.

“Intelligence available to us reveals a preplanned, highly provocative plot to hire vulnerable women—some of whom have been instructed to protest half-naked—and march them to the State Police Command Headquarters in Osogbo,” the APC said.

The APC maintained that the police were investigating individuals suspected of involvement in electoral violence and urged security agencies to remain professional ahead of the election.

It also called on its supporters to remain calm and law-abiding as Osun voters prepare to cast their ballots on August 15.

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Onuachu Tipped To Take Up Sponsorship Of Coach Osahon Emokpae Memorial Football Carnival

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Trabzonspor of Turkey striker, Paul Ebere Onuachu is being tipped to take over full sponsorship of a one-day memorial football competition to be staged in honour of his first grassroots coach, Osahon Emokpae.

Sports247 gathered that the competition, which is scheduled to hold this Thursday at FHA Stadium in FESTAC Town, Lagos, is the brainchild of Nigerian Grassroots Football Federation (NGFF), of whose junior team Coach Osahon was the pioneer handler.

Read Also: Paul Onuachu Donates More Than 50 Football Boots, Plus Various Kits To Young Stars FC Of Lagos | Sports247 Nigeria

NGFF president, Pastor Oscar Ezinwa Emmanuel disclosed that the single day competition will be staged like a memorial carnival involving 12 teams, all of which were influenced one way or the other by Coach Osahon, who was until recently the caretaker committee chairman of Badagry Division Football Association (BDFA).

Pastor Oscar, who is also fondly called ‘TM,’ further disclosed that the competition, which will be staged on a knock-out basis, with games lasting only 20 minutes each, without any half time, will be graced by many esteemed personalities of football across Lagos State, Nigeria and abroad.

The competing teams will be led by Young Stars FC of Satellite Town, which Onuachu played for as a teenager, and from where Osahon took him along to FC Ebedie of Sagamu, when he became head coach of the club owned by Barrister Churchill Oliseh.

Other teams to feature in Thursday’s Osahon Emokpae Memorial Football Carnival include Young Eleven FC, CATS Boys FC, NGFF All Stars Selected, Vido 99 FC, ECAS FC and Golden Intercontinental FC.

Also listed to feature in the competition, which will run from 8am to 4pm at the popular terrain owned by Federal Housing Authority are Flying Sports Academy, SC Heritage, Santana Boys FC, Festiko FC and Awori United.

The NGFF scribe told Sports247 that the organising committee decided to woo Onuachu as the competition’s sponsor based on the fact that he is the late coach’s biggest product and he contributed immensely in efforts to stabilise the grassroots football zealot when the illness that claimed his life started.

“We know that Paul Onuachu really spent a lot on Coach Osahon’s medical bills, and we thank him so much for his efforts. It’s a good example he gave for other players to always remember the coaches that brought them up.

“In the same vein, we are solemly appealing to him to kindly take up the bill for this carnival that we want to stage in honour of Coach Osahon, a man who gave all his life to promoting youth football.

“We have a budget of just one million naira to cover things like refreshments, snacks, water, organisational needs, logistics, fees for referees, awards and other necessities.

“I personally appeal to Onuachu to take up this responsibility and, by the special grace of God, he will be blessed more abundantly in return. Good health will continue to follow him and he will soar higher.

“I know him as a caring boy, who has even given donations to his community in Imo State, for which God will also reward him exceedingly. Injury will mot befall him and he will have a sound mind on the field all the time. Amen,” Pastor Oscar prayed.

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