Overview
- Norway’s sovereign wealth fund (NBIM), a roughly 1%–plus Tesla holder, said it has already voted no, citing the award’s size, dilution and unmitigated key‑person risk.
- NBIM also disclosed votes against two long‑tenured Tesla directors and the company’s general stock compensation plan, escalating its governance push before the meeting.
- Influential proxy advisers ISS and Glass Lewis recommend rejection, while investors are split, with Baron Capital supporting the package and several large institutions publicly opposed.
- Prediction markets imply high odds of shareholder approval this week, though the outcome may hinge on retail participation and positions from major index holders that have not disclosed votes.
- The 10‑year performance award ties potential stock grants to steep milestones—including an $8.5 trillion market value, 1 million robots and 1 million robotaxis—and could lift Musk’s ownership to roughly a quarter of Tesla if fully earned.