Reported 4 months ago
Proxy adviser Institutional Shareholder Services is advising Tesla Inc. shareholders to reject CEO Elon Musk’s $56 billion compensation plan, citing oversight concerns and failure to meet board objectives. The advisory comes after Glass Lewis & Co. also recommended investors vote against the plan, initially approved in 2018. ISS highlighted shareholder concerns over the all-or-nothing vote option and the lack of sufficient mitigation, despite board arguments in favor of Musk's award. Shareholders will vote on the plan at Tesla's June 13 annual meeting with ISS warning about potential risks in relocating Tesla's articles of incorporation from Delaware to Texas, while also suggesting support for reinstating board member Kimbal Musk but not for James Murdoch.
Source: YAHOO