Overview

• A regulatory filing shows a coalition of investors and officials, including SOC Investment Group and the treasurers of Nevada, New Mexico and Connecticut, urging shareholders to reject the plan at Tesla’s November meeting.
• The letter also presses investors to vote against directors Ira Ehrenpreis, Joe Gebbia and Kathleen Wilson-Thompson.
• The group criticizes what it calls the board’s relentless focus on retaining Musk and cites declining operational and financial performance.
• Tesla responded on X that the incentive pays only for outsized value creation and that Musk receives nothing if targets are missed.
• The dispute unfolds as Tesla reported record quarterly deliveries, with market watchers warning that the lapse of the U.S. EV tax credit could sap demand.