Overview
- More than 75% of votes at Tesla’s Austin annual meeting backed the package, which vests over a decade based on performance.
- Targets include market capitalization rising to as much as $8.5 trillion plus operational goals such as 20 million vehicles, large‑scale robot and robotaxi deployment, and millions of Full Self‑Driving subscriptions.
- If fully earned, the grant could add roughly 12 percentage points to Elon Musk’s ownership, lifting his stake to about 25–29%.
- Shareholders also re‑elected three directors and ratified an amended 2018 plan, while the proposal for a Tesla investment in xAI produced an inconclusive result that the board will review.
- Major institutions and proxy advisers were divided, with Norway’s sovereign wealth fund, ISS, Glass Lewis, and CalPERS voicing concerns over dilution and control, as Baron Capital and Florida’s SBA argued the plan aligns incentives and retains Musk.