Tesla Calls for New Vote on Elon Musk’s Pay Package [The New York Times]
Tesla, Inc. (TSLA)
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Source: The New York Times
ImageTesla’s board is asking shareholders to vote again on Elon Musk’s huge compensation deal.Credit...Gonzalo Fuentes/ReutersTesla tries again on Musk’s record pay packageNearly three months ago, a Delaware court voided Elon Musk’smultibillion-dollar pay packageOn Wednesday, Tesla said that it wouldask shareholders to voteThe vote is likely to set off a bitter battle among investors and governance experts over whether shareholders should provide Musk with therichest pay packageThe background:ifIt was the most radical, “skin-in-the game” compensation plan ever devised. This is how Andrewdescribed the compensation arrangementIf Mr. Musk were somehow to increase the value of Tesla to $650 billion — a figure many experts would contend is laughably impossible and would make Tesla one of the five largest companies in the United States, based on current valuations — his stock award could be worth as much as $55 billion.About 73 percent of non-Musk shareholders approved the plan in a 2018 vo
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