Tao Francis

speaker

103 appearances 4 recordings 1 series first heard Aug 2025 last heard 12 Jun

Tao Francis’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 2 in all, peaking in Jun 2026 with 1.

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With cash, that's easy.

Cash is cash.

It's worth what it is at the end.

Equity is more complicated because a lot of the equity that executives get has strings attached to it.

So it might be restricted stock that you only get after so many years.

That's what this newest interim award is for Elon Musk.

It's a two-year vesting period.

It means he

It doesn't actually get the shares themselves for two years.

After that, you have stock options.

You have a lot of different complicated mechanisms that can make it easier or harder for the executive to get more or less shares.

The upshot is that you have to put a value on it, and they do that as of the date the equity is awarded.

So what happens after that?

Well, in the last few years, companies have had to disclose that.

And for a few CEOs, a very small number, those changes over time in any given year have gone to 10 figures.

And that's what these new disclosures give you a window into.

That's the idea.

Companies always describe this as either attracting or attracting and retaining or just keeping the CEO that they have.

Critics of this kind of pay question whether that really makes that much difference after the first billion.

How much of a difference does it make?

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