(Bloomberg) -- Tesla Inc. shareholders are being urged by proxy adviser Institutional Shareholder Services to reject Chief Executive Officer Elon Musk’s $56 ...
-- Tesla Inc . shareholders are being urged by proxy adviser Institutional Shareholder Services to reject Chief Executive Officer Elon Musk ’s $56 billion compensation plan, setting up another hurdle for the electric carmaker’s board. ISS said the pay package, initially approved by shareholders in 2018, was “outsized from the start” and has failed to meet some of the board’s stated objectives. The opposition comes days after another prominent proxy adviser, Glass Lewis & Co.
Tesla’s board has mobilized to try to gain shareholder support for the measure. Tesla board Chair Robyn Denholm has been contacting large institutional investors, and Tesla has published a number of ads on X, formerly Twitter. Directors also hired a strategic adviser who helped set up a “Vote Tesla” website, which argues reinstating the pay package supports shareholders rights.
ISS noted that Tesla’s board said it intends to keep any pending litigation currently assigned to a Delaware court, including Musk’s pay case, in the state, regardless of the potential reincorporation results. Several cancer experts, surgeons and radiologists swiftly condemned a national task force's draft decision not to lower the recommended routine breast cancer screening age to 40 on Thursday.The Zacks Consensus Estimate for NIO's first-quarter loss per share and revenues is pegged at 31 cents and $1.48 billion, respectively. -- As Chinese property developer Country Garden Holdings Co.
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Tesla Shareholders Advised by Proxy Adviser to Reject Musk’s Pay PackageTesla Inc. shareholders are being urged by proxy adviser Institutional Shareholder Services to reject Chief Executive Officer Elon Musk’s $56 billion compensation plan, setting up another hurdle for the electric carmaker’s board.
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