Reported 4 months ago
Calpers, the largest state public pension fund in the US, plans to vote against Tesla Inc. CEO Elon Musk's proposed $56 billion pay package, citing that the compensation is not in line with the company's performance. The opposition from Calpers adds to the pushback faced by the controversial pay proposal, with shareholder adviser Glass Lewis & Co. also urging Tesla investors to reject it due to its excessive size. Musk criticized Calpers' stance, stating that all contractual milestones were met. The pay package will be up for a vote at Tesla's annual shareholders meeting on June 13, with Musk threatening to develop products outside of Tesla if it's rejected.
Source: YAHOO