Tesla shareholders will vote soon on whether to ratify the Musk's compensation plan
As Tesla ’s annual shareholders meeting approaches, the company is ramping up its pushback against groups asking investors to vote against Elon Musk ’s $46 billion compensation package. The California Public Employees’ Retirement System, known as CalPERS, was the latest major investor to signal a vote against Musk’s payday, which is one of 12 items shareholders can vote on next month. CalPERS is one of the 30 top investors in Tesla and owns 9.5 million shares.
Leo Koguan, who owns 27 million shares and is Tesla’s biggest retail investor, has told the website Elecktrek that he will vote against the pay package and the reelection of two board directors. Proxy advisory firm Glass Lewis on Sunday urged shareholders to vote against the package, citing its “excessive size.” But Tesla — and Musk — aren’t staying quiet.
Tesla Calpers Glass Lewis Leo Koguan Brad Lander Business Finance California Public Employees Retirement System Solar Energy In California Robyn Denholm Marie Frost Tesla Inc. Gizmodo
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