Sahid Fawaz October 30, 2025 0 Comments

The most obscene of obscene pay proposals has brought unions and Democratic officials together to launch a campaign urging investors to vote it down.

Reuters reports:

“Tesla critics hope to block the stratospheric compensation proposed for CEO Elon Musk but face an uphill fight. Investors in the electric vehicle maker will decide on November 6 whether to approve the pay package that is potentially worth $1 trillion – likely the largest-ever CEO compensation agreement. Tesla’s board is pushing for shareholders to approve the plan, with Chair Robyn Denholm warning on Monday that Musk could leave if the deal is rejected.

Meanwhile, longtime skeptics of the company’s corporate governance, including Democratic U.S. state leaders and union officials, have launched a campaign to vote down the offer. Several have tried and failed to block earlier record payouts to Musk, including his $56 billion compensation plan for 2018 that investors reapproved last year amid legal challenges that remain.

The critics hope the results this time will be different, and also aim to reject all three Tesla directors who are up for reelection.
‘The idea that another massive equity award will somehow refocus a man who is distracted is both illogical and contrary to the evidence,’ Democratic New York State Comptroller Thomas DiNapoli, a frequent doubter of Musk, said on Monday. DiNapoli controls the vote of 3.3 million shares in Tesla through the state’s pension retirement system, or 0.1% of the company. ‘This is not pay for performance. It is pay for unchecked power,’ he said.”
For the rest of the story, visit Reuters here.