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Musk Set to Clear Next Hurdle on Mission to Moonshot Pay Package

Feb. 4, 2020, 4:45 PM

It took almost 22 months for Tesla Inc.’s market value to eclipse the first of a dozen thresholds required for Elon Musk to unlock parts of his moonshot pay award.

On Tuesday, less than two weeks later, it bounded over the second hurdle, and the third is rapidly approaching.

It’s a reality that seemed almost unfathomable two years ago, when Tesla shareholders approved the largest corporate pay deal in modern history, entitling Musk, the 48-year-old chief executive officer, to stock options worth billions of dollars if the firm’s market capitalization, revenue and earnings multiplied.

But last year, even as ...