Analyst: Tesla's new incentive plan is a critical step in ensuring that Musk continues to serve as CEO at least until 2030.

Analyst Dan Ives of Wedbush Securities commented on Tesla's latest incentive-release research report. The report states, "In the just-submitted proxy filing, Tesla's board members are asking shareholders to approve a long-term incentive plan for Musk. The plan is aimed at retaining Musk and motivating him to continue in his current leadership role, with the core being a new stock plan - Musk will only receive corresponding compensation if he achieves 'excellent financial returns'." The analyst said, "Most of the incentive conditions are already included in our 'Three Steps Checklist' proposed in early July. At that time, we believed that Tesla's board must take action to ensure Musk stays with Tesla until 2030. Now, the foundation for supporting Musk to accelerate the current strategy and seize future opportunities is in place, this move is a key step in ensuring Musk continues as CEO until at least 2030 - Tesla is currently entering one of its most crucial stages in its growth cycle, with the future of autonomous driving and robotics technology right around the corner."