Tesla Seeks to Revive Musk’s $47 Billion Pay Deal With New Shareholder Vote [The New York Times]
Tesla, Inc. (TSLA)
Last tesla, inc. earnings: 4/29 04:11 pm
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Source: The New York Times
Facing criticism that it is overly beholden to Elon Musk, Tesla’s board of directors said on Wednesday that it would essentially give him everything he wanted, including the biggest pay package in corporate history.If setbacks in court and the car market have induced any soul searching among Tesla’s board, there was no sign of it in the latest announcement. If anything, the board doubled down on backing Mr. Musk, Tesla’s chief executive, risking riling up activist investors and more litigation.The board’s decision to ask shareholders to endorse a compensation plan for Mr. Musk that is worth about $47 billion came less than three months aftera Delaware judge voidedTesla will now provide shareholders more information about how the plan was devised and ask them to approve it again. That vote will take place as investors are increasingly worried about the electric car company because itssales are decliningLawyers who represented shareholders in the Delaware case were not immediately avail
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Sec Filings
- 4/29/24 - Form DEFA14A
- 4/29/24 - Form ARS
- 4/29/24 - Form DEFA14A
- TSLA's page on the SEC website