Electric automaker Tesla has launched a charm offensive to try to coax shareholders to vote Thursday for billionaire CEO Elon Musk's giant pay package, after the windfall was nixed in court.
The list of Tesla investors who oppose Elon Musk's multibillion-dollar pay package is growing. The chief investment officer of CalSTRS, a major California pension fund, told CNBC that the fund opposes the figure.
A California administrative judge rejected Tesla's bid to dismiss claims by a top state regulator accusing the automaker led by billionaire Elon Musk of overstating its vehicles' self-driving capabilities.
Tesla (NASDAQ: TSLA ) is among the mega-cap tech stocks that have seen the most downside this year. Shares of TSLA stock are down more than 30% on a year-to-date basis today.
The stock could see a boost if shareholders vote in favor of the proposals, reflecting investor optimism about the company's future prospects.
Elon Musk said “it's not cool” that a major institutional shareholder has said it will oppose a shareholder resolution to award him a $56 billion bonus at next week's annual meeting, but said smaller retail investors in Tesla Inc. support it.
Tesla (TSLA) is set to hold its annual shareholder meeting on Thursday, with investors voting on whether to reapprove CEO Elon Musk's $55.8 billion pay package.
Musk's compensation package is up for a shareholder vote on Thursday after a Delaware judge invalidated it earlier this year.
The vote this week is to effectively reinstate a 2018 pay package that was struck down by a judge in January. CalSTRS chief investment officer Chris Ailman said that the fund opposed the pay package previously and will do so again.
California State Teachers Retirement System (CalSTRS) will vote against Tesla CEO Elon Musk's $56 billion pay package, the pension fund's chief investment officer told CNBC on Monday.
Here's everything you need to know about the electric vehicle maker's week.
Nio is launching a direct competitor to Tesla's Model Y.