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SolarCity's Rive Gets $77 Million Grant Just Like Musk at Tesla

SolarCity Corp. awarded co-founder Lyndon Rive a $77 million stock option award that looks just like the one his cousin Elon Musk received at Tesla Motors Inc. in 2012.

Rive has ten years to earn as many as 3 million stock options with an exercise price of $48.97 according to the filing. He can do so by achieving pairs of goals, with half tied to SolarCity’s stock price and half tied to operational goals such as increasing customers, and lowering the cost of generating solar wattage. Every time he achieves a pair, he earns one-tenth of the options.

Molly Canales, a...