Reported about 1 year ago
Tesla shareholders are voting on whether to reapprove CEO Elon Musk's compensation package, previously valued at $46 billion, ahead of a June 13 shareholder meeting. The package, which Musk relies on to maintain control over the company, had been initially approved by independent shareholders in 2018 but was later voided by a court in 2024. The new vote involves Musk's stock options tied to Tesla's performance targets between 2018 and 2028, with Musk emphasizing the need for control. Shareholders, including individual investors owning 42% of Tesla shares, have until June 12 or the virtual annual meeting to cast their votes, with the proposal needing a simple majority to pass. Aside from the compensation package, shareholders will also decide on moving Tesla's incorporation from Delaware to Texas.
Source: YAHOO