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Tesla Shareholders Should Reject Musk’s Pay, Glass Lewis Says
- ‘Excessive’ pay deal will dilute existing shareholders
- Glass Lewis also recommends voting against Texas move
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Tesla Inc. shareholders are being urged by a major proxy advisory firm to reject a proposed $56 billion pay package for Chief Executive Officer Elon Musk, in a blow to the electric-vehicle maker’s board.
Glass Lewis & Co. made its recommendation in a report released Saturday, citing the “excessive size” of the pay deal and the dilutive effect upon exercise.