US EditionProxy firm Glass Lewis joins ISS in urging vote against Musk's $1 trillion pay package
Proxy advisory firms Glass Lewis and Institutional Shareholder Services recommend rejecting Elon Musk’s $1 trillion pay plan citing shareholder dilution and governance risks.
- Glass Lewis recommended shareholders vote against Elon Musk's $1 trillion pay package, joining Institutional Shareholder Services ahead of the Tesla shareholder meeting on November 6.
- Tesla's board in September proposed a $1 trillion stock award for Elon Musk, CEO of Tesla, tying payouts to multiple stock and product milestones.
- Glass Lewis highlighted proposal 3's 208 million share Musk award, tied to a 208 million-share employee pool, and flagged proposal 4 as excessively dilutive and risky.
- Ahead of November 6, Tesla's post on X quoted `Glass Lewis’s one-size-fits-all checklists...`, criticizing the firms and citing the Delaware court decision voiding Musk's prior $1 trillion pay package.
- Given proxy advisers' market share, Institutional Shareholder Services said the package locks in high pay over ten years and Glass Lewis warned Musk's voting stake gives him a free 15% head-start.
22 Articles
22 Articles
Ross Gerber Calls Elon Musk's Pay Packet 'Insanity,' Questions Whether Anyone On Tesla Board Negotiated The Trillion-Dollar Salary - Tesla (NASDAQ:TSLA)
Investment firm Gerber Kawasaki's co-founder Ross Gerber thinks that Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk's new trillion-dollar pay package could invite lawsuits in the near future. Check out the current price of TSLA here. Elon Musk's Pay Package Is ‘Insanity,' Says Ross Gerber Taking to the social media platform X on Tuesday, the investor criticized the new pay package for Musk. "Obviously the pay package thing is insanity. Did anyone on the…
Business Insider
BizTocA second major proxy firm told investors to reject Elon Musk's $1 trillion Tesla pay deal
A second major proxy firm just told Tesla investors to reject Elon Musk's $1 trillion pay plan, warning it hands him too much power for too little performance.Kevin Dietsch/Getty ImagesGlass Lewis joined ISS in urging Tesla investors to reject Elon Musk's $1 trillion pay deal.The proxy firm warned Musk's plan could shrink shareholder stakes and reward modest performance.Tesla hit back in a lengthy X post, calling the proxy firms' recommendations…
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