Overview
- The annual meeting begins at 3 p.m. local time in Austin (21:00 GMT) with a webcast, with ballots on Elon Musk’s compensation plan and a proposed Tesla investment in xAI.
- The plan spans ten years across 12 tranches tied to financial and operational milestones, with the final tranche requiring an $8.5 trillion market value or 20 million vehicles sold.
- If every target is met, Musk could receive up to an additional 12% of Tesla’s current share count, after holding about 12.4% as of September 12 and receiving 96 million shares in August from the 2018 plan.
- Opponents, including Norway’s sovereign wealth fund and proxy advisor ISS, cite the package’s size, potential dilution, and single‑person risk, saying some targets lack precision.
- Supporters such as Baron Capital and Florida’s State Board of Administration argue prior awards delivered extraordinary shareholder value, while Vanguard and BlackRock have not disclosed their voting intentions and Musk has hinted rejection could influence his willingness to remain CEO.