Tesla Faces Investor Resistance in Reinstating Elon Musk's Lucrative Pay Package from 13 smp Watch Video

⏲ Duration: 0:40
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✓ Published: 31-May-2024

Description:
Tesla faces investor pushback on reinstating Elon Musk's $55 billion pay package, which involves stock options to hit company milestones. CalPERS, the largest US public pension fund and one of Tesla's top 30 investors, plans to vote against the proposal, saying the compensation is not commensurate with company performance. Other proxy advisory firms and groups of shareholders have also publicly said they will vote against the pay package. Tesla argues the pay plan is critical to the company's future success and has promoted it heavily. The shareholder vote on Musk's pay and other board proposals will occur at Tesla's annual meeting on June 13.