Tesla shareholders will vote on Elon Musk’s massive $56 billion pay package after a Delaware judge voided the first one. And this time, Musk is leaving nothing to chance.
The fight for Tesla CEO Elon Musk’s enormous pay package is heating up. On June 13th, Tesla shareholders will decide the fate of Musk’s compensation package, which is estimated to be worth as much as $56 billion. It will be the second time that shareholders will vote on the CEO’s pay, after a Delaware judge voided the first one earlier this year on the grounds that the approval process was “deeply flawed.” And Musk doesn’t want to leave anything to chance.
Tesla shareholders first approved Musk’s compensation back in 2018, granting him an additional 12 percent stake in the company over several years as long as he hit certain benchmarks. Those benchmarks included an at-the-time astronomical-seeming market valuation of $650 billion — an amount that was more than 10 times the company’s 2018 value of around $59 billion. Shareholders approved a total of 12 tranches that Musk must surpass before vesting the full amount.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Top proxy advisor ISS recommends against Elon Musk's $56 billion Tesla pay packageTop proxy advisor Institutional Shareholder Services on Friday recommended that Tesla shareholders vote against the re-approval of CEO Elon Musk's $56 billion pay package
Read more »
Elon Musk Begs Tesla Shareholders to Vote for His $56 Billion Pay PackageScience and Technology News and Videos
Read more »
Tesla shareholders urged to reject Elon Musk's $56 billion pay packageProminent proxy advisory firm Glass Lewis aired concerns about the 'excessive size' of Musk's pay deal.
Read more »
Tesla board urges retail investors to back Elon Musk's $56 billion pay dealTesla's board is trying to woo its unusually large base of individual investors to endorse Chief Executive Officer Elon Musk’s $56 billion pay package.
Read more »
Elon Musk Blind With Rage After Analysts Recommend Rejecting His $56 Billion Pay PackageScience and Technology News and Videos
Read more »
Tesla shareholders advised to reject Musk's $56 billion payProxy advisory firm Glass Lewis said on Saturday it has urged Tesla shareholders to reject a $56 billion pay package for Chief Executive Officer Elon Musk.
Read more »