A coalition of Tesla shareholders, including SOC Investment Group and state officials from Nevada, New Mexico, and Connecticut, urged investors to vote against Elon Musk’s proposed $1 trillion pay package at the company’s November meeting, a regulatory filing showed Thursday. The group also called for opposing the re-election of three directors, citing what it described as the board’s “relentless pursuit” of retaining Musk despite weak oversight and declining performance.
Tesla defended the plan on X, arguing that the package directly ties Musk’s compensation to shareholder value creation, saying: “If Elon Musk doesn’t deliver results, he receives nothing.”
Reuters had the report.
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Since packing it in on his DOGE distraction and his return to Tesla, Musk has overseen a huge rise in the share price. Today wasn’t great, but if you understand market dynamics you’ll know it was nothing too unusual:
If Musk delivers he deserves his pay packet, and if not, he gets nothing. Try telling that to the busybodies though.
