Reported 10 months ago
Norway’s $1.7 trillion sovereign wealth fund has announced its intention to vote against Tesla Inc. CEO Elon Musk's $56 billion pay package, citing concerns about the total size of the award, performance triggers, dilution, and lack of mitigation of key person risk. The fund's vote at the upcoming annual general meeting marks the second time Musk's pay package has faced opposition, with proxy advisers also recommending investors reject the proposal. In addition to opposing the pay package, the fund plans to vote in favor of moving Tesla's corporate home to Texas and to support a shareholder proposal related to collective bargaining and freedom of association.
Source: YAHOO