Overview
- The outcome will be announced at today’s annual meeting in Austin after voting closes, with the proposal framed as a 10‑year, performance‑based award.
- The plan ties up to $1 trillion in stock to 12 market‑cap tranches reaching $8.5 trillion and to operational goals including 20 million vehicle deliveries, 1 million robotaxis, 1 million AI bots, and steep profitability targets.
- Proxy advisers ISS and Glass Lewis urged a no vote, while investors are split, with Norway’s sovereign wealth fund and CalPERS opposed and backers including Florida’s state fund, Ark Invest, and Baron Capital.
- If targets are met, Musk’s ownership would rise from roughly 15% to more than 25%, increasing his control over Tesla.
- Legal experts expect immediate shareholder lawsuits regardless of the result, likely filed in Texas after Tesla’s domicile change, and Musk has suggested he could scale back his role if the plan fails.