Overview
- Tesla’s company count put overall approval at about 75% because it included insider votes such as Elon Musk’s stake.
- Excluding insiders, roughly 66% of outside holders backed the package, compared with about 73% support for the 2018 plan, according to a third-party analysis cited by CNBC.
- The compensation is structured as 12 stock tranches tied to long-term goals, with the first vesting threshold at a $2 trillion market capitalization.
- Targets span market-value and operational measures, and terms include provisions that could allow Musk to realize substantial value even if some operational milestones are not met.
- Musk defended the award in posts on X, proxy firms ISS and Glass Lewis had urged investors to vote against it, and Tesla’s board chair thanked shareholders following the approval.