Tesla is facing increasing pushback from investors regarding its bid to reinstate Elon Musk's $55 billion pay package.
Tesla is facing increasing pushback from investors regarding its bid to reinstate Elon Musk's $55 billion pay package.
"We do not believe that the compensation is commensurate with the performance of the company," Frost said. Musk does not receive a salary from Tesla and his pay package is centered on a series of goalposts around the carmaker's financial growth. The plan, which was valued at $55 billion by Bloomberg when it was struck down by a Delaware judge in January, involves a 10-year grant of 12 tranches of stock options that are vested when Tesla hits specific targets. When the company hits each milestone, Musk gets stock equal to 1% of outstanding shares at the time of the grant.
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