In today’s CEO Daily: Geoff Colvin on Elon Musk’s $1 trillion pay package.

The big story: Long delays at U.S. airports as FAA reduces flight capacity amid shutdown.

The markets: It’s bad out there!

Plus: All the news and watercooler chat from Fortune .

Good morning. For Elon Musk, the Texas gambit seems to have worked—great news for Musk, bad news for shareholders of U.S. companies.

At Tesla’s annual meeting on Thursday, shareholders voted in favor of giving CEO Musk a gargantuan, record-shattering pay package that could give him stock worth $1 trillion after several years. It’s all upside for Musk; under the package’s rules he has nothing to lose. But the backstory of how he got there is worrisome.

Very briefly: In 2018, the Tesla board of directors gave Musk a 10-year pay

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