Tesla announced Thursday that shareholders had voted to approve the biggest pay package in history for CEO Elon Musk, in a deal worth up to $1 trillion over 10 years if the company meets a list of ben...

Shareholders approved a plan to grant Mr. Musk shares worth nearly $1 trillion if he meets ambitious goals, including vastly expanding the company’s stock market valuation.

If approved, the new pay plan would give Musk more than a 25% stake in the company for meeting specific milestones.