For Tesla, boardroom drama will be on full display on Thursday, when the EV maker will announce the results from shareholder votes on a number of key issues ...
will be on full display. On Thursday afternoon from its Giga Austin plant, Tesla will announce the results from shareholder votes on a number of key issues — most importantly, the status of CEO Elon Musk ’s compensation. While Wall Street expects Musk to secure his pay package, it won't come without a battle.
“While top management often shows great interest in keeping down other costs for the company, it has no interest in keeping down its own pay. If the firm’s directors are not actively working to limit CEO pay, then no one is,” economist and CEO pay expert Dean BakerEven before the 2018 pay package was invalidated by the Delaware court, Musk threatened shareholders about his divided attention, as he is in charge or spends significant amounts of time at SpaceX, X.com , and the Boring Co.
Musk fan: Cathie Wood, chief executive officer and chief investment officer at Ark Invest, speaks during the Milken Institute Global Conference in May in Beverly Hills. urged shareholders to vote against Musk’s compensation, arguing that the “excessive size” of the award and the dilutive effect of it on existing shareholders were major concerns. ISS, the other major proxy adviser firm,came out against Musk's pay package, one big one weighed in against Musk over the weekend — Norway's $1.
“ has been an area of hot button contention among some investors but we would expect the 2018 package will be overwhelming reapproved,” Wedbush analyst Dan Ives predicted in a note to investors late last week. Further weakness as Algonquin Power & Utilities drops 4.7% this week, taking three-year losses to 50% -- Prime Minister Justin Trudeau’s government will call for a vote this week on a planned hike in the capital-gains tax inclusion rate, a measure that would raise billions in additional government revenue and has attracted the ire of Canada’s business community.
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