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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTesla launches website to convince shareholders to vote for Elon's $55 billion payday
Tesla has launched a new website aimed at convincing shareholders to vote for reinstating Elon Musks $55 billion compensation plan. Back in 2018, Tesla shareholders approved one of the biggest compensation plans of all-time: a $55 billion fully stock-based CEO compensation plan for Elon Musk. In January, a judge sided with lawyers representing a Tesla shareholder alleging that Teslas board misrepresented the compensation package when presenting it to shareholders.
Its a complicated issue, but in short, the judge found that Teslas board and Musk didnt play by the rules of a public company when it presented the plan to shareholders. The judge found that Tesla had governance issues when coming up with the compensation plan and those issues were not communicated to shareholders before voting on the plan.
Instead, Tesla claimed that the plan was negotiated by independent board members when it was found that some board directors had personal financial dealings with Musk outside of Tesla, amongst other things. The Delaware court found that this invalidated the vote, and therefore, Tesla had to rescind the compensation plan.
Yesterday, Tesla told shareholders that it will ask them to vote on moving Teslas state of incorporation to Texas and then revote for Musks compensation plan without changing anything. Now, Tesla has launched a new website called SupportTeslaValue.com to convince shareholders to vote for the package again. The website opens up by claiming that giving the shares to Musk will protect your investment and Teslas future:
more... https://electrek.co/2024/04/18/tesla-launches-website-convince-shareholders-vote-elon-55-billion-payday/
TexasBushwhacker
(20,209 posts)Words escape me
WarGamer
(12,463 posts)Look at the Hertz Car Sales website... they have 1400 Model 3's for sale...
from 22k -30k
Tesla actually did a little too good of a job getting the cars out there...
The Model Y is the best selling car in the WORLD.
So of course sales numbers can't keep up the growth rate.
And NO, Elon doesn't need another 55B
dutch777
(3,031 posts)Unfortunately as some analysts have now downgraded the stock value to $125 a share and it is still above $150/share seems like a bad bet. Guess I could get one losing share just to get in on the vote. Like we really need robotaxis with software that doesn't see mom's with strollers in crosswalks!?!?!? Great idea!