"Tesla's board is warning shareholders they risk losing Elon Musk as CEO if they don't pass his $1 trillion pay package. In a letter to shareholders sent on Monday, Tesla chair Robyn Denholm said that Tesla was at a "critical inflection point," adding that failing to pass the compensation package could lead to Musk stepping away and Tesla losing "significant value.""
"The proposed pay package, which is set to be put to a shareholder vote at Tesla's annual meeting next week, was unveiled last month after Musk's previous compensation plan was struck down by a Delaware judge. To unlock the full payout, which could be worth as much as $1 trillion over the next decade, Musk needs to hit a series of ambitious milestones, including shipping 1 million Optimus robots and increasing Tesla's market capitalization to $8.5 trillion by 2035."
Shareholders will vote next month on a proposed $1 trillion compensation package for Elon Musk that ties payouts to ambitious operational and market milestones. Failure to approve the plan risks Musk stepping down and could cause significant value loss for Tesla. Full payout requires shipping 1 million Optimus robots and reaching an $8.5 trillion market capitalization by 2035. Proxy firms ISS and Glass Lewis advised shareholders to vote against the proposal, prompting Musk to denounce them as "corporate terrorists" and to say he would not feel comfortable building a "robot army" if vulnerable to ousting.
Read at Business Insider
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