According to Sawyer Merritt, Elon Musk's 2025 CEO Performance Award shares have officially been issued, split into 12 tranches totaling 423.7 million shares, as detailed in a new SEC filing. Each tranche is only earned if Tesla meets rigorous performance goals, a structure designed to incentivize milestone achievements in AI-powered autonomous driving, robotics, and data-driven manufacturing. The shares, held in Musk’s revocable trust and voted by proxy, cannot currently be voted by Musk himself, ensuring compliance and governance transparency. The vesting timeline, extending to 2033 or 2035 based on when tranches are earned, aligns with Tesla’s strategic roadmap for AI advancement and market leadership. This award structure underscores Tesla’s commitment to long-term AI innovation and positions the company to capture emerging opportunities in autonomous vehicles, AI-powered manufacturing, and global AI mobility solutions (source: Sawyer Merritt, SEC filing).