Overview
- On Tesla’s earnings call, Elon Musk labeled ISS and Glass Lewis “corporate terrorists” and questioned their sway over passive investors.
- Board chair Robyn Denholm told investors to disregard the firms’ guidance, arguing Musk would earn nothing unless shareholders see exceptional returns tied to strict milestones.
- The proposed award could pay about $1 trillion over 10 years if Tesla hits targets including roughly an $8.5 trillion market cap and about $400 billion in adjusted EBITDA.
- ISS and Glass Lewis urged a no vote, citing unprecedented scale and potential dilution, while Glass Lewis said it only provides analysis and clients decide.
- Musk said he seeks an ownership stake in the mid‑20% range, and shareholders are set to vote on the package on Nov. 6.