Musk Pay Package Proposal Promotes Powerful Push Back - CleanTechnica

The article discusses significant pushback against a proposed Tesla pay package for Elon Musk, which could be worth nearly one trillion dollars if certain performance milestones are met. Institutional investor advisory groups, including Institutional Shareholder Services (ISS) and Glass Lewis & Co., have recommended that Tesla shareholders reject the proposal. ISS criticized the plan for its astronomical value and far-reaching performance targets, while Glass Lewis highlighted concerns about excessive dilution of existing shareholders’ ownership—estimating a potential 11.3% reduction—and questioned the board’s independence in overseeing Musk’s compensation due to longstanding personal and professional ties. Musk responded to the criticism with a social media post implying that he might step down if the pay package is not approved, framing himself as indispensable to Tesla’s success compared to other automotive CEOs. The article portrays this as either a strategic move or a temper tantrum. Glass Lewis also raised concerns about whether the pay package sufficiently incentivizes Musk to focus on Tesla, given his involvement in multiple other ventures such as SpaceX