Overview
- Norway’s sovereign fund NBIM, holding roughly 1.1% of Tesla, said it will vote no, citing the package’s scale, dilution, and key‑person risk.
- Proxy advisers ISS and Glass Lewis and funds including CalPERS urged a no vote, while Baron Capital and some asset managers have declared support.
- The 10‑year award could approach $1 trillion if targets are met, including a $8.5 trillion market value, one million robotaxis, and one million AI robots, with up to about 423 million shares vesting in tranches.
- Tesla’s board has warned Musk could leave or reduce his involvement if the plan fails, with investors voting today in Austin under rules permitting him to cast his own shares.
- The proposal follows a Delaware court’s halt of Musk’s earlier $56 billion package, with related litigation and appeals still unresolved.