""Without Elon, Tesla could lose significant value, as our company may no longer be valued for what we aim to become," Denholm wrote, adding that Musk's "time, talent and vision ... have been essential to delivering extraordinary shareholder returns." If shareholders do not support the pay package and "fail to foster an environment that motivates Elon to achieve great things through an equitable pay-for-performance plan, we run the risk that he gives up his executive position," she added."
""Musk's proposed $1 trillion performance award includes 12 tranches of restricted stock, each tied to ambitious milestones that culminate in Tesla achieving a market capitalization of $8.5 trillion, which is more than quadruple its current valuation. The goals also include operational metrics such as delivering 20 million vehicles as well as deploying millions of robotaxis and AI robots over the next decade.""
""The plea to investors comes ahead of Tesla's annual shareholder meeting on Nov. 6, when votes will be counted on the historic pay plan and other key proposals. To put the magnitude in perspective, this compensation plan stands as the largest ever proposed in U.S. corporate history, surpassing Musk's previous $56 billion package for 2018. That deal was invalidated earlier this year by a Delaware court after it found the process lacked proper board oversight and transparency.""
Tesla chair Robyn Denholm urged shareholders to approve a proposed $1 trillion compensation package for CEO Elon Musk, warning the company could lose significant value if he steps down. The package contains 12 tranches of restricted stock tied to milestones culminating in an $8.5 trillion market capitalization, delivery of 20 million vehicles, and deployment of millions of robotaxis and AI robots over the next decade. Votes will be tallied at the Nov. 6 annual meeting. The proposal is the largest ever in U.S. corporate history, eclipsing Musk's prior $56 billion plan that was invalidated by a Delaware court over oversight and transparency.
Read at Fortune
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