Tesla’s board has awarded CEO Elon Musk an interim pay package of 96 million shares, according to a filing out Monday, which would be worth about $29 billion.

The company said in the filing that Musk’s new package will include shares that vest in two years as long as he continues as CEO or in another key executive position. The award will be forfeited if the legal battle over Musk’s 2018 compensation ends with him being able to exercise shares from that package, which was valued at $56 billion when it vested.

Tesla stock climbed more than 2% on Monday.

In January, Delaware Chancellor Kathaleen McCormick upheld her ruling in Tornetta v. Musk, which found that Musk’s 2018 CEO compensation plan was improperly granted to him. The court determined, among other things, that Tesla’s board withheld key information from shareholders before asking them to approve the 2018 plan.

After the ruling, Musk began an anti-Delaware campaign and moved Tesla’s site of incorporation to Texas. Tesla also appealed the Tornetta decision, and the case is now before the Delaware state Supreme Court.

Musk owns roughly 13% of Tesla’s outstanding shares, and his level of control over the electric vehicle maker has been a regular topic online and with shareholders.

In January 2024, Musk threatened to develop artificial intelligence and robotics products outside of Tesla unless he gained greater control over the company. He said in a post on X at the time that he’s “uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control.”