"Tesla investors will vote on November 6 at the annual Shareholder Meeting t o approve a new compensation package for Musk, revealed by the company's Board of Directors earlier this month. The package, if approved, would give Musk the opportunity to earn $1 trillion in stock, an ownership concentration of over 27 percent (a major request of Musk's), and a solidified future at the company."
"Nevertheless, the big pulls of this vote are held by proxy firms and other large-scale investors. Two of them, Institutional Shareholder Services (ISS) and Glass Lewis, said they would be voting against Musk's proposed compensation plan. Today, the State Board of Administration of Florida (SBA) said it would vote in favor of Musk's newly-proposed pay day, making it the first large-scale shareholder to announce it would support the CEO's pay."
"One analyst said that Musk's payday is inevitable. Gary Black of the Future Fund said today there is a "near-zero chance" that shareholders will allow Musk's pay package to be rejected: "There is a near-zero chance that $TSLA shareholders will vote down Elon's new proposed comp plan at the Nov 6 shareholders' meeting." He added an alternative perspective from Wedbush's Dan Ives, who said that he had a better chance of starting for the New York Yankees than the comp package not being approved."
Tesla investors will vote on November 6 at the annual shareholder meeting to decide a proposed compensation package for CEO Elon Musk. The package could allow Musk to earn up to $1 trillion in stock and concentrate over 27% ownership, effectively solidifying his future at the company. Retail support on X is strong, while major proxy advisors Institutional Shareholder Services and Glass Lewis have announced opposition. The State Board of Administration of Florida announced support. Analyst Gary Black called rejection a "near-zero chance," and Wedbush's Dan Ives offered a humorous comparison to his own odds.
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