This strikes me as basically a correct analysis. As I wrote two years ago, when the Delaware Chancery Court struck down the pay package, “there is something awkward about a judge second-guessing the CEO compensation decisions of the board of directors of a $600 billion company,” particularly when shareholders (twice!) approved those decisions. It is also in its way a…
The Delaware Supreme Court has reversed the 2024 Court of Chancery decision that rescinded Elon Musk’s $56 billion pay package at Tesla. In a 49-page per curiam opinion published Friday afternoon, the court stated rescinding the compensation package wasn’t a proper remedy because it left Musk uncompensated for six years of work he’d already contributed to Tesla. […] Having concluded…
Tesla shareholders approved a record-setting pay package for Chief Executive Elon Musk, a plan designed to motivate the world’s richest man with as much as $1 trillion in additional stock. Flanked by dancing humanoid robots on a stage bathed in pink and blue light at the electric vehicle maker’s Austin, Texas, headquarters, Musk thanked the crowd of shareholders who supported…
Elon Musk, the world’s richest person, spent the end of Tesla Inc.’s earnings call pleading with investors to approve his $1 trillion pay package and blasting the shareholder advisory firms that have come out against the proposal. “There needs to be enough voting control to give a strong influence, but not not so much that I can’t be fired if…
Tesla Inc. shareholders are being urged by proxy adviser Institutional Shareholder Services to vote against Chief Executive Officer Elon Musk’s $1 trillion compensation plan, adding a potential obstacle as the board works to rally investor support. This marks the second year in a row that ISS urged shareholdersto vote against a pay package for Musk. Musk oversees an overlapping empire…
Tesla’s board on Friday proposed a pay package that could make its chief executive, Elon Musk, the world’s first trillionaire as long as he meets a series of very ambitious corporate goals. Mr. Musk, already the world’s richest person, would have to increase Tesla’s stock market value eightfold over the next decade to collect the full value of the package,…
Tesla Inc. approved an interim stock award worth about $30 billion for Chief Executive Officer Elon Musk and said it would put a longer-term CEO compensation strategy ahead of a vote at the EV maker’s Nov. 6 annual meeting. The new agreement includes 96 million shares of the automaker that will vest if Musk continues to serve in the top…
… If you own Tesla stock … look Tesla’s SEC filings do not currently include a risk factor saying “Elon Musk is a loose cannon who will alienate approximately all of our customers by going all-in on Donald Trump, and then also alienate Donald Trump.” Is that securities fraud? If there is one essential theme of this column (that is…
About a month ago, with Tesla’s stock sinking and some investors irritated about Elon Musk’s White House focus, Tesla’s board got serious about looking for Musk’s successor. Board members reached out to several executive search firms to work on a formal process for finding Tesla’s next chief executive, according to people familiar with the discussions. Tensions had been mounting at…
New York City Comptroller Brad Lander has asked the city law department to file a federal securities fraud lawsuit against Tesla Inc. on behalf of the city’s pension system, alleging the company made “material misstatements” about CEO Elon Musk’s role now that Musk is supervising the federal job-cutting effort known as the “department of government efficiency.” “Ever since Elon Musk…