By Ben GlickmanA group of Tesla shareholders which includes New York City Comptroller Brad Lander is calling for investors to vote against Elon Musk's $46 billion pay package. The group of shareholders wrote to other Tesla holders arguing that the electric-vehicle maker had governance issues. They said that the company's board was too close to Musk and had failed to properly evaluate the pay package. Shareholders are set to vote on Musk's pay package and other proposals, including moving its incorporation to Texas, on June 13. Tesla has since re-proposed the pay package, which is currently valued at around $46 billion, in its proxy filing and has looked to convince shareholders to support the measure.

Source: Wall Street Journal May 20, 2024 22:00 UTC