Summary
Tesla's board chair is urging shareholders to approve a pay package for CEO Elon Musk, who might leave if it is not approved. Musk's potential pay is linked to meeting certain goals over 7.5 years, possibly totaling nearly $1 trillion. Shareholders, including advisory firms and investors, have expressed concerns about the proposal's impact on shareholders and governance.
Key Facts
- Tesla's board chair is asking shareholders to approve a pay package for Elon Musk.
- Musk suggested he might leave Tesla if the package is not approved.
- The proposed pay package could reach nearly $1 trillion if Musk achieves specific milestones.
- Elon Musk owns about 15% of Tesla shares.
- Some shareholders and advisory firms advise voting against the package due to its size and potential impact on existing shares.
- Shareholder voting on the package ends on November 5.
- Preliminary voting results are expected to be announced during Tesla’s annual meeting on November 6.
