Tesla Shareholders Mount Opposition to Elon Musk's $46B Pay Package, Following Court Ruling from sign in investing com Watch Video

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✓ Published: 22-May-2024

Description:
A group of Tesla shareholders is urging investors to vote against Elon Musk's $46 billion pay package and the re-election of two board members at the upcoming shareholder meeting on June 13. The shareholder group argues that the board is too close to Musk and has failed to properly evaluate his compensation package, which was originally approved in 2018 but struck down by a Delaware court in January due to concerns about the approval process. Tesla has re-proposed the pay package, arguing that Musk earned the compensation by hitting targets related to the company's share price and operations. However, the shareholder group believes that Musk's divided attention among various companies exposes shareholders to unnecessary risk.