Overview
- Roughly 75% of votes cast backed the 12‑tranche stock award at Tesla’s annual meeting in Austin, Texas.
- The package pays out only on performance, with milestones that include a market value of $8.5 trillion, 20 million vehicles produced, 1 million robotaxis, 1 million humanoid robots, and 10 million Full Self-Driving subscriptions.
- If fully achieved, the award would add about 423.7 million shares to Musk’s holdings, increasing his stake from roughly 13% to around 25%.
- Large institutions and proxy advisers such as Norway’s wealth fund, CalPERS, ISS and Glass Lewis opposed the plan, citing its magnitude, dilution risk and governance concerns.
- Tesla said formal SEC filings will follow; shareholders also reelected directors and delivered a nonbinding, mixed signal on a potential investment in Musk’s AI startup xAI.