Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Shareholder advocate argues that Musk’s Tesla pay package is too high and should be rejected

Reading Time: < 1 minute

Glass Lewis, a proxy adviser firm, has once again raised concerns about Tesla CEO Elon Musk’s pay package ahead of the company’s upcoming shareholder meeting on June 13. The firm stated that Musk’s ownership stake in Tesla would increase from 12.9% to 22.4% if the pay package is approved by shareholders.

In a report issued over the weekend, Glass Lewis highlighted its concerns about the size of Musk’s compensation, calling it excessive and dilutive to disinterested shareholders. The firm had previously raised similar concerns in 2018 when the pay package was first granted.

Furthermore, Glass Lewis criticized Tesla’s proposal to move its state of incorporation to Texas, calling it unwarranted at this time. The firm also compared Musk’s compensation to other companies in the S&P 100 and S&P 500 automotive sector, noting that the dilutive effect of Musk’s package was significantly higher.

Musk’s 2018 pay package, which was rescinded by a Delaware judge earlier this year, was valued at around $56 billion. Glass Lewis now estimates that Musk’s current package is worth approximately $44.9 billion.

Analysts predict that Tesla’s shareholder meeting on June 13 could be a volatile event, with Wall Street closely watching the outcome of the vote on Musk’s pay package. Despite the controversy surrounding the package, some analysts believe that shareholders will ultimately approve it.

Overall, Glass Lewis’s latest report adds to the ongoing debate about Musk’s compensation and the potential impact it could have on Tesla’s future direction and shareholder value.

Taylor Swifts New Album Release Health issues from using ACs Boston Marathon 2024 15 Practical Ways To Save Money