Reported 5 months ago
Proxy advisory firm Glass Lewis has advised Tesla shareholders to reject a $56 billion pay package for CEO Elon Musk, citing reasons such as the excessive size of the deal, dilutive effects, and the CEO's expanding commitments, including the purchase of Twitter. The proposed package, without salary or cash bonus, is tied to Tesla's market value reaching up to $650 billion over 10 years. Glass Lewis also criticized Tesla's move to Texas and recommended against the reelection of Kimbal Musk while supporting James Murdoch's reelection. Tesla has defended the compensation, emphasizing Musk's role in the company's growth.
Source: YAHOO