Tesla Vote on Musk's Near-$1T Pay

Tesla has proposed a near-$1 trillion, performance-based compensation plan for CEO Elon Musk that would vest across up to 12 tranches if the company hits aggressive market-cap and operational targets; shareholders will vote on the plan on Nov. 6. Board chair Robyn Denholm and supporters including analyst Gary Black, investor Tom Nash and Florida’s State Board of Administration have urged approval, warning Musk could leave if rejected and saying the award aligns his incentives for AI, autonomy and robotics. Proxy advisers ISS and Glass Lewis, some state treasurers, former employees and other critics including unions and activist groups have urged investors to reject the package as excessively dilutive and a sign of weak board independence, citing a Delaware court decision voiding Musk’s 2018 award. Musk has publicly pushed back — tweeting and telling investors he may not pursue certain projects without sufficient ownership and influence — which critics say underscores governance and leadership risks. Analysts warn the vote could trigger significant volatility in Tesla shares and potentially spill over into crypto markets where Musk’s influence is felt.