"Tesla's proposed $1 trillion pay package for CEO Elon Musk has come under renewed scrutiny after proxy adviser Institutional Shareholder Services (ISS) urged investors to vote against what could be the largest compensation plan ever awarded to a company chief. ISS's comments on Friday marks the second consecutive year that it has urged shareholders to reject a compensation plan for Musk."
"Musk's record Tesla pay plan could still hand him tens of billions of dollars even if he falls short of most of its ambitious targets, however, thanks to a structure that rewards partial achievement and soaring share prices. Last month, Tesla's board proposed a $1 trillion compensation plan for Musk in what it described as the largest corporate pay package in history, setting ambitious performance targets and aiming to address his push for greater control over the company."
ISS recommended that investors vote against Tesla's proposed $1 trillion compensation package for Elon Musk, marking a second consecutive year of such opposition. Proxy advisers influence major institutional investors, increasing pressure on Tesla's board before the November 6 shareholder meeting. A Delaware court previously voided Musk's $56 billion pay package. The proposed plan could still yield tens of billions for Musk through partial achievement credits and rising share prices. The board presented the package as a retention and incentive tool, locking in high pay opportunities over ten years and reducing flexibility to meaningfully adjust future pay levels. Tesla shares rose after the proposal.
Read at www.aljazeera.com
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