Tesla Inc (NASDAQ:TSLA) investors have been urged to vote against Elon Musk's record US$56 billion bonus by Glass Lewis, the proxy advisor, ahead of its annual general meeting next month. Glass Lewis said it believes Musk's pay package is “excessive” and has sent its clients a report urging them to block it at the upcoming vote on June 13.
To boost Tesla's (NASDAQ: TSLA) fluctuating and often weak stock performance in 2024, Elon Musk announced the launch of Robotaxi on August 8. This fully autonomous self-driving vehicle is designed primarily for use in taxi services.
A Dekaware court voided the original compensation plan.
Proxy advisor Glass Lewis has called on shareholders in Tesla to reject a proposal that would see Elon Musk paid $56 billion for his work as the carmaker's CEO, according to reports.
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Proxy advisory firm Glass Lewis said on Saturday it has urged Tesla shareholders to reject a $56 billion pay package for Chief Executive Officer Elon Musk, which if passed would be the largest pay package for a CEO in corporate America.
Tesla shareholders are being urged by a proxy advisory firm to oppose the reinstatement of CEO Elon Musk's $56 billion pay package after it was voided by a judge earlier this year.
Glass Lewis has advised Tesla shareholders to vote against Elon Musk's $56 billion pay package. The proxy advisor also urged them to reject a proposal to reincorporate the EV maker in Texas.
Proxy advisory firm Glass Lewis said on Saturday it has urged Tesla shareholders to reject a $56 billion pay package for Chief Executive Officer Elon Musk, which if passed would be the largest pay package for a CEO in corporate America.