In a recent video, Tesla implored its shareholders to participate in the upcoming Annual Meeting of Stockholders. The company emphasized the significance of two proposals: the ratification of the 2018 CEO Performance Award, which would grant CEO Elon Musk a substantial compensation package, and the reincorporation of Tesla in the state of Texas.
Tesla highlighted the remarkable growth experienced by its shareholders under Musk’s leadership, with investment values increasing by approximately 1,100 percent over the past six years. The company expressed concern that this value creation is at risk and urged shareholders to cast their votes in favor of the proposals.
Responding to the video on the social media platform X (formerly Twitter), Musk acknowledged that the Tesla team had created the video without his prompting and expressed his gratitude for their efforts. This development comes as Tesla shareholders prepare to vote on the relocation to Texas and Musk’s $56 billion pay deal, as reported by the Financial Times.
Tesla’s board of directors has faced criticism for its close ties with Musk. Board Chairperson Robyn Denholm previously expressed concerns about Musk’s compensation, stating that he had not received any payment for his work at Tesla over the past six years, which she and many shareholders considered unfair.
