Reported 4 months ago
Tesla is standing by CEO Elon Musk's $56 billion pay package despite a recommendation from Institutional Shareholder Services (ISS) for shareholders to reject it. The electric-vehicle maker defended the proposal, emphasizing that it motivates Musk to create value for shareholders. Tesla argued that a new compensation plan would be costlier and highlighted that ISS's recommendation was based on a "technical misunderstanding." The company's response comes ahead of a vote at their annual meeting on June 13, where shareholders will decide on the proposed pay package.
Source: YAHOO