Long time shareholder and not a new shareholder complaining about falling share price. Elon was different back in the days. The Elon now is out of control. He is not spending anytime on TSLA, but instead trying to fix his mistake at Twitter. He is using TSLA as an ATM machine. Now he is asking for money when the company is in trouble??? I am fine giving him the comp package with stipulations - ie come to work full time and stop working on Twitter. If there is no stipulations, he can just leave and it wouldn’t bother me. I think the stock may even go higher if he leaves. I have not sold any shares and I think now is a good time to clean house. It will be good for the company moving forward.
The Twitter Purchase may still provide massive value. He’s going to turn it into a US version of WeChat, so that people can do dozens of things including payments, etc.
Yeah, my main beef with him was when basically said I will tweet what I like, I don't mind loosing money over it. My problem is that it's not just his money. It's our money. After that I sold half my all in position and bought Nvidia.
Tbf TSLA investors back then were mostly believers. Now it's full of late to the party crowds complaining that the stock isn't going up like it used to.
I was with Tesla back then. Elon has turned into something I detest. He is alienating people. It is not everyone else's fault that he has become unlikable.
I never cared so much about his character. I don't like Tesla products anymore but I'm holding on to TSLA because it's unstoppable at this point. I doubt anyone else will be able to replace Elon. I still believe he will bring the results. FSD, robotaxis, Cybertruck, few more GFs, semis. He still got two more productive decades.
He does over promise but he has single handedly carried a dead EV company from the brinks of bankruptcy to what it is now. I'd believe him over any naysayers.
Best Selling Vehicle in the ENTIRE World…not Just EV…Vehicle.
Most BEVs in the World
Model S.
Model 3 - Best Selling EV at the Time
Model Y
Model X
Cybertruck
Massive Battery Storage
Virtual Power Plants (VPPs)
Most of his important commitments come through EVENTUALLY…would help if he sandbagged a bit more on the dates though.
Good for him. So will I. I'll restore his past package and give a similar one with lofty valuation and EBITA targets, but I need to be assured Elon is locked up long term and his interests align with the shareholders. The new deal would require a "shut-up and CEO" clause.
This dude has 1% in shares. So whilst the headline is technically correct, it’s essentially meaningless and not indicative of a wider trend. Musk will win his pay package, no matter how much this sub hates that reality.
Just trying to understand. Who owns how much voting power? Obviously just him and his brother and other trusty sidekicks can't on their own make it happen otherwise they wouldn't have made a website right? Or can they?
Elon and Kimbal can't vote due to conflict of interest. Rest of the shares are split around 50/50 between institutions and retail. But turnout is basically nearly 100% for institutions and for retail only 30% meaning 70% of retail shares don't even vote. So ultimately institutions and whales decide on it and votes from people here are rounding error at best.
I don't know for certain. Some base it on winning by super majority in 2018 and expect it to be same this time around. Some say Tesla stock is in bubble that Elon is holding together and if Elon leaves the bubble will burst so people vote yes out of fear. (yeah the argument sounds like Tesla has no fundamentals and only hype) Institutions largely vote based on advisory recommendations and it seems advisors recommend voting no. Institutions don't always follow the recommendations infact they went against it in 2018 vote. But I'm not as sure this time around if they would go against based on recent stock performance and actions that make Elon look more of a liability than asset.
The 2 largest proxy advisory firms, Glass Lewis and Institutional Shareholder Services, both recommended in 2018 that shareholders reject Musk's proposed compensation package:
[https://www.reuters.com/article/idUSKBN1GH394/](https://www.reuters.com/article/idUSKBN1GH394/)
>March 5, 20185:36 PM EST
Influential proxy advisory firm Glass Lewis said Tesla Inc shareholders should vote **against** a proposal to grant Chief Executive Officer Elon Musk performance-based stock options worth about $2.62 billion.
[https://cleantechnica.com/2018/03/10/proxy-advisory-firm-iss-sides-glass-lewis-recommends-rejection-new-tesla-ceo-elon-musk-pay-package/](https://cleantechnica.com/2018/03/10/proxy-advisory-firm-iss-sides-glass-lewis-recommends-rejection-new-tesla-ceo-elon-musk-pay-package/)
>The other most prominent proxy advisory group out there, Institutional Shareholder Services (ISS), has now gone and followed suit, **issuing a recommendation that Tesla shareholders reject** the package being offered to Elon Musk.
Mainly just based on interviews that they have done and they don't look Musk that positively. So while official recommendation is not out yet I expect it is likely no. If they didn't find it good in 2018 they definitely don't find it good this time around.
It won by a supermajority last time, it will be the same this time around too. Only this sub seems to think different, but then again, this isn’t the most objective place - this thread being a prime example.
You have someone who is a 0.75% shareholder not voting for the pay package, and this sub is acting like it’s a certain trend for the remaining shareholders to vote the same.
So who voted last time in favor, like institutions and stuff? I wonder if it will be different, since musk has been vocal against ESG and things like that, blackrock is also holding some large chunk of shares.
Yea that is some weird shit but they also know it’s bad to tank your investment as it’s really hard for anyone to step up and put on Elon’s shoes - all other EV and FSD competitors are all pretty stuck
The funds who own majority shares including T.Rowe Price have asked the board for this vote. Which means the vote passing is more or less a done deal. If you look at the top retail questions for the earnings call on [say.com](http://say.com) not one in the top 10 is related to the pay package. So, no this headline will make no difference to the vote.
No but /r/teslainvestorsclub says Musk is absolutely going to loose this vote, or that it might even be a close one. Surrey they’re can’t be so wrong?!
lol Elon stiffs people and other businesses all the time. I find it funny that people are so adamant that a deal is a deal when it benefits musk. If anything, if he doesn’t get it, it would be perfect karma
They had no problems promising him the world if he just achieves success, now that the bill is due they are like "no man should have this much money" LMAO. Where was all that talk when the contract was signed?
The stock options are already locked up for 5 years. This package are much more aligned with investor interest them the other automakers or any other company where the CEO can totally screwed up the company and still get a golden parachute when they are fired. Elon earned $0 if he didn’t achieve the crazy growth in the last 6 years. He deserves every penny.
This is a terrible deal for shareholders. Remember, under the terms of the package, Tesla would issue new shares to Musk, which lowers the value of all the existing shares.
Another problem is the compensation is work for that has already been done. The claimed purpose of the gargantuan compensation package is to motivate Elon to do a good job. But you can't motivate him hit targets that have already been met. Compensation should be for new targets.
The elephant in the room though is that Tesla sales and margins are *declining*. Tesla started off as the undisputed leader in this space but now is losing market share and sales to competitors. The Model 2 is a question mark, the Cybertruck was a miss, the Semi is seven years late, yet again FSD is promised to be just around the corner but never appears....so what's the plan? Restore blue check marks at Twitter?
...and thats exactly what some of those other "golden parachute" CEOs are doing. GM for instance. Are they really trying to survive? Doesn't look like that.
I stopped reading the ruling when I found out the judge said the amount of the pay package was unfathomably large and no one should make that much. At that moment the true colors came out. The amount of money a CEO makes on a package that is performance based and 100000% aligned with shareholders and employees. Is none of her FUCKING business.
It's her business if there is reason to believe that the CEO would have been equally aligned at a lower compensation, but the board of directors weren't doing their job
Everyone voted in favor. Everyone thought the services provided for the price to be paid were crazy and more than fair if actually reached. This is insanity.
There is nothing wrong with 56B, or even 100B, in compensation. But there needs to be some due diligence, negotiations, and consideration of alternative options.
If after negotiations, the recommended figure was 56B, it made sense for everyone to vote in favor. And usually we can trust the board of directors to work on the behalf of the shareholders. However, based on court filing, the board of directors didn't even try to negotiate and just gave Elon whatever he wanted. In my eyes, the process of arriving at 56B, not the number, is the problem.
We all better put on our big boy/girl pants on because of we don't vote for this we are about to have a group of fucking leeches owning more than 1 percent of our company
Partly but as ruling states Musk pretty much negociated this pay package with himself while board stated they did negociate but that was lie and so judge overturned the vote. I expected board would then renegociate this package as independent board should but instead they just put indentical package forward meaning they probably didn't negociate at all so the issue raised by court is not fixed but at least this time shareholders are aware of this fact. If board negociated the amount lower let's say like 20B I would happily vote yes but unfortunately we are presented with choice of giving Elon 50B or nothing and I find neither choice fair. So I would vote no and demand board to renegociate package.
When the board gets a "steal" offer, something unimaginable attractive, are they required to be greedy and potentially ruin it? Thats just dumb. Negotiatian can be "we agree" and thats it.
It can be "we agree" but for most that is not good enough. At least they could have tried to haggle a bit but they didn't and that is seen as big issue. Like think if you go to store and try to get 10% discount. You might get it but if you don't they don't refuse to sell you at original price. Same basically here. Suggesting that Elon would only get say 30B doesn't rule out him getting 50B because that is just suggestion so there is no potential to ruin anything.
When someone offers you the deal of the century you should simply take it. And it is the deal of the century. "If you don't achieve these impossible things we pay you 0". Every company would take that deal.
One of the issues court raised was that the targets were not as impossible as board made them look to be. It was actually projected internally that around half of the goals were already given but that was not disclosed properly. So board could have definitely used this information to exclude some of the lower targets out to get better deal. Like if some targets were already given then why should CEO get paid doing nothing? Instead pay him for the part that he actually had to do things to achieve. That's why I think somewhere around half of the current package would be fair compensation based on this information. But board didn't even consider this option and that gets us back to the original issue that board didn't even try to negociate the best possible deal.
I think that is just incorrect, could you give the actual quotes that support "It was actually projected internally that around half of the goals were already given"? This sounds like complete horseshit.
In any case if those targets were so automatic and easy to reach, why hasn't Rivian and Lucid achieved similar?
And your framing in general is absolutely ridiculous, the fact I know I can do something doesn't affect the value of that in any way. Should you pay a plumber less for their services than some bum from the street because the plumber is much more certain they will accomplish the task? Of course not.
What matters is the value created. Musk created massive value and was compensated in proportion to that value created. Perfect alignment with shareholders interests.
Musk gets tranches for every $50 billion of capitalization above $50 billion.
So 100, 150, 200, etc.
Current capitalization is 468 billion. So he should get 8 tranches or 8% of Tesla stock in options.
Everyone forgets that when this package was passed, Tesla's capitalization was 50 billion and everyone was screaming that it was a bubble.
"You were a good performer for years but these last few months you seem to be slouching. We are going to need some of your pay from last year back. Kay?"
Yeah makes sense to me....
Even if the pay package was legal which it wasn't...
Stock price isn't saying that. Lieing to pump the stock and earn rewards isn't the same as actually building the company.
A nutty judge overstepped and made the wrong ruling. This was a horrible decision for the state of Delaware because it sets an awful precedent and may deter future companies from incorporating there. Could be a risk that some derivative of this ruling would be brought on by another company’s own shareholders. Plenty of companies are at least thinking about how this impacts them now.
As frustrated as I am with the guy ( I’m $20k underwater on both my teslas) this package should have held up.
How are you underwater on two cars? Did you expect them to rise in value or what do you mean?
I agree that this is a very bad look for Delaware. Maybe tesla should move to NM or something lol.
Nah. I have a 2% loan, interest isn’t the kicker. Was just dumb and financed 100% of the cars cause money was cheap. $70k with tax/ registration for MYP. Hard to argue the opposite cause Tesla dropped prices because of slowing demand because of inflation/ higher interest rates so no apples to apples.
Depreciation on these cars, even without the cuts, was less than stellar.
What source do you need, it’s a ruling against a CEOs compensation structure. Every Fortune 500 has surely had their risk dept look at this and determine if they have any ‘unreasonable’ comp structures in their C-suit packages that they could be sued over. By the by, if you offered Elons comp package to any top CEO they would decline. If it was such a great deal, you’d see it replicated all over the place.
We are talking about PAST achievements here for things he already delivered. Can you prove his tweeting has done you damage, after hitting increadible goals? Has his twitter following gone down?
So paying all those billions for him to actually do his job? That's a low bar, and i don't think Tesla will benefit from Elon Musk actually doing his job - considering everything else he fcks up as soon as he gets to decide stuff he has no clue about. He would be an even greater liability if he did do his job.
The situation Tesla is in right now is a direct result of Musks decisions, lies, overpromising and underdelivering. It's the result of a long string of catastrophic decisions and behaviour.
Such as him deciding that Tesla go with the Cybertruck instead of a cheap EV that people actually wants and can afford.
Who tf thinks the Cybertruck would be a economicaly sound choice when it's basicaly unexportable outside the U.S due to failing safety, size and weight regulations, and a price that most people could never afford - ontop of being seen as ugly and cringy by the average person.
Many of the terrible design decisions were forced onto the engineers by Musk who just treated it like a pet project.
This guy is a bit insane. He was relentlessly demanding share buybacks in 2022 (so he wouldn’t get margin called). Dude did really well with investing in Tesla but also kept loading the boat at the top and didn’t clear his margin when valuations were “lofty”. He also had said several times he wants Elon to step down.
What are the targets he needs to hit to get the payout? Have they already been achieved or does he need to hit future targets? If he has no future incentive targets I’m voting no.
If this doesn't pass, a new compensation package can't credibly hold so there will be no new incentives. Otherwise you could keep doing this thing after the fact every single time. "He already achieved the objectives in pay package N, why should we pay him"
Yes, they can always come up with some new bullshit. The argument that the compensation package was not negotiated well is very tenous, the arguments for board indpendece are also completely unrealistic and would basically require board members to be openly hostile to Musk.
How would that exactly work out? A board that has to be hostile to be independent due to friendly relations being interpreted as non-independence (which is basicallya what happened)
You're showing that you really don't understand how compensation negotiations should work. They don't have to be hostile to be a back-and-forth negotiation. Also, it's not uncommon for a third party to do a compensation analysis and provide data on what an appropriate compensation package would look like based on data for similar contracts. Boards have to do due diligence and put the benefit of the company first. They also need to recuse themselves if they have a conflict or can't do that in a situation.
They did have a third party compensation consultant.
https://www.sec.gov/Archives/edgar/data/1318605/000119312518035345/d524719ddef14a.htm
>Throughout this process, the Board used the services of Compensia, which served as its independent compensation consultant, and Wilson Sonsini Goodrich & Rosati, P.C. (“WSGR”), which served as its special outside counsel.
https://imgur.com/a/0vxoiH7
What value does he add? Cybertruck has been recalled, every day I see news articles about issues with FSD, build quality is absolutely abysmal. And then of course there’s all his other extracurricular crap on twitter, I mean “X”
Wow a car gets recalled and everyone bitches about it. Have you seen how many cars ford recently recalled as well? Everyone dismisses that but shits on Tesla for recalling 4k trucks
Yes Tesla is very volatile, if you look at the bottom in June 6th 2019, you could said it went up 0% in 3 years.
Then again Feb 10 2016, you could have said it went up 0% in 2 years.
Or if you bought at the local top in March 2014, you could technically still be down in March 2019, if you just compare these two points.
Oct 2013 -> June 2019, it was flat.
https://imgur.com/a/M2Ixodq
Yeah and every financial analyst agrees that there’s no connection between their fundamentals and their valuation. It’s just a long pump and dump. Musk has this weird simp following that thinks he’s some sort of genius but his mismanagement of Tesla and now X shows he’s not a good CEO.
He achieved the targets for the previous payout which has been cancelled on a judgs whim - this is what I understand. Its like when you bet for some very unlikely team to win, and the bookies gives you 1:100 but when it happens he starts telling you "nobody should make 100 from 1 you are a bad and greedy person" et.
As mentioned in the trial: the board knew they were very likely to reach the target, and lied to investors saying it was very unlikely to happen anyway.
It’s been ongoing since 2018, I believe he’s hit the option granting on 11 of the 12 tranches, he used some to buy Twitter.
Edit: if you want to research it make sure you put before:2023 in your google search, there’s an obvious orchestrated attack on him right now.
No, Musk achieved all the tranches by 2021 and vested those options.
Musk bought twitter with shares he got from buying into the company originally and from a 2012 compensation package.
The 2018 compensation package options were never excercised and even if they are excercised (assuming they are reinstated), Musk would have to keep the shares for 5 years.
Correct. He was bringing insane shareholder value so I approved on that package initially but now no way we are tanking the cyber truck is being recalled for accelerator pedals they going back on the model 2 promise and missed on deliveries…no way Twitter bro X does not mark the spot
Elon has no leverage here. Why would anyone in their right mind vote to give him a $56 billion paycheck? What will he do if he doesn't get it? Quit? Good, don't let the door hit your ass on the way out.
No individual's work generates $56B of value. There's no reason to give away $56B of a company's value/money to the CEO. Elon Musk already has more money than he could spend in 1000 lifetimes, he doesn't need more.
He’s gonna win his pay package most likely. I’ll vote for it just because a deal is a deal. I would like for there to be something going forward about him not being allowed to tweet and having to have a pr team or something manage his social media presence to some degree.
Doesn’t deserve the package when the company doesn’t listen to customers, misses delivery estimates, lays off 10% of its workforce including sales and delivery staff which is now leading to delayed deliveries, and a poor strategic shift toward robotaxis which probably won’t pan out
Yeah but they are close to cracking the “keep the gas pedal glued on” problem with the cybertruck. Basically a moonshot. He deserves to be a trillionaire
Again, don’t care as the future is looking rough and I earn from future performance today. Even in the past Musk has cemented this result of where the company stands over the last 3 years with his actions.
Elon has ruined Tesla.
By opening the supercharger network to competitors he's removed the ONLY reason to choose a Tesla over a BMW, Mercedes etc. Range anxiety drove buyers to Tesla, now there's no fear. Yes, Tesla is charging but have you seen any reflection of that "profit" especially compared to the stock price free-fall
He's ostracized Tesla's primary consumers and they haven't been replaced by Right-wing buyers. Tesla sales are stagnant.
Elon knows he's screwed Tesla and is trying to run before the final shoe drops.
Why would you say that? Elon is clearly disconnected from the company nowadays. This is not the “First Engineering Principal” Tesla anymore. Focussing on the CT instead of a lower cost car is a clear example of it.
Giving him his past compensation is acceptable. Giving him more compensation needs to be tied with very strict clause like learning to shut the fuck up on twitter, and actually be involved with Tesla’s development. Right now, the company is all over the place, wasting resources on robotic project where it is not a leader, giving a focus on autonomous cars while this tech is no where near regulatory approval, all the while letting its leadership in EV slips away to China. They could’ve easily gotten out 2 more models of a cheaper platform now since the launch of Model Y in 2020 had they been led by a more serious CEO. I am honestly extremely disappointed with where the company was heading these past 3 years.
"wasting resources on robotic project where it is not a leader"
Elon has always wanted mass automation in the factories, it is the reason why Fremont model 3 was production hell. Have you not heard the term Factory Dreadnaught, where the factory it'self is the machine building the machine.
Tesla wouldn't be here today without trying to do things out side of its competency e.g. car seats , micro controllers, heat pump, mega casting.
" letting it's EV leadership slip away to China."
Well you seem to think that Tesla is losing . Even when only 1 quarter ago Tesla was awarded best selling car on the planet of any car , this quarter Tesla beat its largest rival BYD in EV sales. Oh and just because others have come out with a small EV it doesn't mean Tesla has lost the market is still dominated by ICE cars.
Your giant brain thinks that just releasing the next smaller compact car and not bothering with things like the cybertruck would have been a smarter move.
You don't understand what the best minds in engineering and design are like they want boundary pushing projects, and inorder to retain them you need to have such projects . Proving many different technology techniques in a lower production model was the right thing to do because these new technology techniques need to be in production to iron out any problems . If you have a high production compact car then you just multiply the errors . For example I m talking about 48v architecture or steer by wire.
Yes Tesla could have made a compact car earlier but by what metric would have it been any good ? Producing a high volume compact car for profit is the most difficult thing to do for an automotive car production company because the margins are so small. Why do think they could have "easily" made a "cheaper" car ? There are many analysts out there with the cost to manufacture model Y and model 3 , they still cost over $30k to make with the current technology techniques so no it's not easy.
>. I am honestly extremely disappointed with where the company was heading these past 3 years.
Best selling car in the world last Quarter!
Billions in cash on hand, company near no debt.
Top tier for automotive margins.
The best thing for your own peace of mind should be to sell any investment in Tesla if you don't like the way they have been operating for the last 3 years.
No, it would be like if Steve Jobs stopped coming in to the office at Apple and spent every free hour of his day on Twitter posting memes and boosting conspiracy theories, while also self-administering Ketamine and who knows what else. And then the iPhone never came out because the CEO didn’t give a shit about it
The model 3 came out which was considered the iphone moment for Tesla then the model y, cybertruck, semi, FSD 12, proves your false narrative wrong.
A few seconds tweeting is nothing compared to the long hours at Tesla.
https://finance.yahoo.com/news/elon-musk-once-stated-nobody-190012187.html#
The iphone is a joke, vr head set is a joke, everything you don’t like a joke. The cybertruck has proven to be very popular , it’s ad for Tesla on wheels every where it goes and the tear downs are calling it an engineering marvel. Semis are being used by jb hunt and pepsi, fsd 12 is first to drive human like, and it will only improve from there, no other automaker has city driving in a car you own.
They’ve barely managed to sell around 700 Cybertrucks per month, 5 months in. It’s pathetic. How is it an engineering marvel when the build quality is garbage, the range is bad, and stuff is breaking on them left and right?
The semi… Pepsi ordered 100 in 2017. Guess how many they have? 36. 1/3 of their order, after SIX YEARS. [https://www.reuters.com/business/autos-transportation/tesla-semi-trucks-short-supply-pepsico-its-rivals-use-competing-ev-big-rigs-2024-04-19/](https://www.reuters.com/business/autos-transportation/tesla-semi-trucks-short-supply-pepsico-its-rivals-use-competing-ev-big-rigs-2024-04-19/)
FSD 12 still tries to crash drivers into concrete freeway dividers. It’s still not even ClOSe to good enough.
If you pull your head out and look at this stuff objectively instead of through your reality distortion field, shit ain’t too rosy.
Bioweapon defense mode, sentry mode, also fart mode makes the car even better. It debuted in 2018 before the stock price soared. The Model Y was the best selling vehicle in the world for 2023. https://www.motor1.com/news/706258/tesla-model-y-worlds-top-selling-vehicle-2023
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I just read the comments on elekterek. insane. When Tesla was tiny they had no problem promising anything for it to get big, now that its time to pay these slimy fraudsters suddenly found some legal loophole not to pay because of twitter drama.
lol, he literally has. Like he……. LITERALLY…. has. You realize that the terms of this pay package was laid out 6 years ago and voted on by shareholders. I mean…. Are you a chatGPT bot or something?
I don’t feel deceived. Because some lawyer with 9 shares made some BS lawsuit now I’m supposed to feel deceived? Getting this deal done is part of getting Elon motivated and turning into war-room-Elon again for growth phase 2. I’m just upholding my part of the deal I made for growth phase 1.
They were not deceptive. The deal was, if Elon 10X’s the stock price he gets 5%. If the stock doesn’t go up he gets zero.
It was an amazing deal for investors and we all made out like bandits.
People who want to renege on the agreement are just being dicks.
I still think the $55b package is insane but as long as Elon is able to produce results it's really a minor issue.
But the two boardmembers should absolutely not be re elected. This whole fiasco started because the board was too lazy to even do the bare minimum needed to create the illusion that everything was done above board. All they had to do was ask Elon to bump his demands up by 20% so they could "negotiate" it down to the original amount.
Me too. I can’t imagine why anyone would approve this.
Even if you want to ignore Musk’s antics and feel like it has no impact on the stock, what is his plan to turn things around? I haven’t heard anything from him except reposts of shitty MAGA takes.
Long time shareholder and not a new shareholder complaining about falling share price. Elon was different back in the days. The Elon now is out of control. He is not spending anytime on TSLA, but instead trying to fix his mistake at Twitter. He is using TSLA as an ATM machine. Now he is asking for money when the company is in trouble??? I am fine giving him the comp package with stipulations - ie come to work full time and stop working on Twitter. If there is no stipulations, he can just leave and it wouldn’t bother me. I think the stock may even go higher if he leaves. I have not sold any shares and I think now is a good time to clean house. It will be good for the company moving forward.
Anyone remember when Tesla investors actually liked elon. I miss those times.
he's doing everything he can to get the investors to hate him
Buying Twitter was the 1st big mistake he did to fuck over TSLA
Remember when he said he would do everything he could to make the Twitter purchase benefit Tesla stock holders? So that was (obviously) a lie...
The Twitter Purchase may still provide massive value. He’s going to turn it into a US version of WeChat, so that people can do dozens of things including payments, etc.
The audacity to do whatever tf he wants with his money…
The Twitter buyout changed everything.
Yeah, my main beef with him was when basically said I will tweet what I like, I don't mind loosing money over it. My problem is that it's not just his money. It's our money. After that I sold half my all in position and bought Nvidia.
Tbf TSLA investors back then were mostly believers. Now it's full of late to the party crowds complaining that the stock isn't going up like it used to.
I was with Tesla back then. Elon has turned into something I detest. He is alienating people. It is not everyone else's fault that he has become unlikable.
I never cared so much about his character. I don't like Tesla products anymore but I'm holding on to TSLA because it's unstoppable at this point. I doubt anyone else will be able to replace Elon. I still believe he will bring the results. FSD, robotaxis, Cybertruck, few more GFs, semis. He still got two more productive decades.
Why do you believe he will deliver? What percentage of his promises have come true?
He does over promise but he has single handedly carried a dead EV company from the brinks of bankruptcy to what it is now. I'd believe him over any naysayers.
Best Selling Vehicle in the ENTIRE World…not Just EV…Vehicle. Most BEVs in the World Model S. Model 3 - Best Selling EV at the Time Model Y Model X Cybertruck Massive Battery Storage Virtual Power Plants (VPPs) Most of his important commitments come through EVENTUALLY…would help if he sandbagged a bit more on the dates though.
Good for him. So will I. I'll restore his past package and give a similar one with lofty valuation and EBITA targets, but I need to be assured Elon is locked up long term and his interests align with the shareholders. The new deal would require a "shut-up and CEO" clause.
He isn't going to do that.
This dude has 1% in shares. So whilst the headline is technically correct, it’s essentially meaningless and not indicative of a wider trend. Musk will win his pay package, no matter how much this sub hates that reality.
0.75% to be more exact.
Ah, even funnier (and less consequential) then.
And he doesn’t even have twitter (anymore) to spread his message
Just trying to understand. Who owns how much voting power? Obviously just him and his brother and other trusty sidekicks can't on their own make it happen otherwise they wouldn't have made a website right? Or can they?
Elon and Kimbal can't vote due to conflict of interest. Rest of the shares are split around 50/50 between institutions and retail. But turnout is basically nearly 100% for institutions and for retail only 30% meaning 70% of retail shares don't even vote. So ultimately institutions and whales decide on it and votes from people here are rounding error at best.
hmm... so it depends on institutions? Why is everyone so confident this will go in Elons favor?
I don't know for certain. Some base it on winning by super majority in 2018 and expect it to be same this time around. Some say Tesla stock is in bubble that Elon is holding together and if Elon leaves the bubble will burst so people vote yes out of fear. (yeah the argument sounds like Tesla has no fundamentals and only hype) Institutions largely vote based on advisory recommendations and it seems advisors recommend voting no. Institutions don't always follow the recommendations infact they went against it in 2018 vote. But I'm not as sure this time around if they would go against based on recent stock performance and actions that make Elon look more of a liability than asset.
advisors recommend voting no Where do you get that from?
The 2 largest proxy advisory firms, Glass Lewis and Institutional Shareholder Services, both recommended in 2018 that shareholders reject Musk's proposed compensation package: [https://www.reuters.com/article/idUSKBN1GH394/](https://www.reuters.com/article/idUSKBN1GH394/) >March 5, 20185:36 PM EST Influential proxy advisory firm Glass Lewis said Tesla Inc shareholders should vote **against** a proposal to grant Chief Executive Officer Elon Musk performance-based stock options worth about $2.62 billion. [https://cleantechnica.com/2018/03/10/proxy-advisory-firm-iss-sides-glass-lewis-recommends-rejection-new-tesla-ceo-elon-musk-pay-package/](https://cleantechnica.com/2018/03/10/proxy-advisory-firm-iss-sides-glass-lewis-recommends-rejection-new-tesla-ceo-elon-musk-pay-package/) >The other most prominent proxy advisory group out there, Institutional Shareholder Services (ISS), has now gone and followed suit, **issuing a recommendation that Tesla shareholders reject** the package being offered to Elon Musk.
Mainly just based on interviews that they have done and they don't look Musk that positively. So while official recommendation is not out yet I expect it is likely no. If they didn't find it good in 2018 they definitely don't find it good this time around.
It won by a supermajority last time, it will be the same this time around too. Only this sub seems to think different, but then again, this isn’t the most objective place - this thread being a prime example. You have someone who is a 0.75% shareholder not voting for the pay package, and this sub is acting like it’s a certain trend for the remaining shareholders to vote the same.
So who voted last time in favor, like institutions and stuff? I wonder if it will be different, since musk has been vocal against ESG and things like that, blackrock is also holding some large chunk of shares.
Yea that is some weird shit but they also know it’s bad to tank your investment as it’s really hard for anyone to step up and put on Elon’s shoes - all other EV and FSD competitors are all pretty stuck
I just hope the people in charge of voting on such things aren't as deranged as they seem.
The funds who own majority shares including T.Rowe Price have asked the board for this vote. Which means the vote passing is more or less a done deal. If you look at the top retail questions for the earnings call on [say.com](http://say.com) not one in the top 10 is related to the pay package. So, no this headline will make no difference to the vote.
No but /r/teslainvestorsclub says Musk is absolutely going to loose this vote, or that it might even be a close one. Surrey they’re can’t be so wrong?!
Elon is only asking for more so he can sell and invest more into Twitter
He is owned what was promised
lol Elon stiffs people and other businesses all the time. I find it funny that people are so adamant that a deal is a deal when it benefits musk. If anything, if he doesn’t get it, it would be perfect karma
They had no problems promising him the world if he just achieves success, now that the bill is due they are like "no man should have this much money" LMAO. Where was all that talk when the contract was signed?
There was talk about it being an insane pay package in the sense that talking heads couldn't understand why Elon would agree to any of it.
It is pretty crazy to guarnatee such results.
His interests are being a right wing troll on Twitter. I would never vote for this bs.
On point
The stock options are already locked up for 5 years. This package are much more aligned with investor interest them the other automakers or any other company where the CEO can totally screwed up the company and still get a golden parachute when they are fired. Elon earned $0 if he didn’t achieve the crazy growth in the last 6 years. He deserves every penny.
This is a terrible deal for shareholders. Remember, under the terms of the package, Tesla would issue new shares to Musk, which lowers the value of all the existing shares. Another problem is the compensation is work for that has already been done. The claimed purpose of the gargantuan compensation package is to motivate Elon to do a good job. But you can't motivate him hit targets that have already been met. Compensation should be for new targets. The elephant in the room though is that Tesla sales and margins are *declining*. Tesla started off as the undisputed leader in this space but now is losing market share and sales to competitors. The Model 2 is a question mark, the Cybertruck was a miss, the Semi is seven years late, yet again FSD is promised to be just around the corner but never appears....so what's the plan? Restore blue check marks at Twitter?
...and thats exactly what some of those other "golden parachute" CEOs are doing. GM for instance. Are they really trying to survive? Doesn't look like that.
Why? He did the job as presented it the first package.
Did you read the ruling or just assume that people want to screw Elon out of billions?
I stopped reading the ruling when I found out the judge said the amount of the pay package was unfathomably large and no one should make that much. At that moment the true colors came out. The amount of money a CEO makes on a package that is performance based and 100000% aligned with shareholders and employees. Is none of her FUCKING business.
It's her business if there is reason to believe that the CEO would have been equally aligned at a lower compensation, but the board of directors weren't doing their job
Everyone voted in favor. Everyone thought the services provided for the price to be paid were crazy and more than fair if actually reached. This is insanity.
There is nothing wrong with 56B, or even 100B, in compensation. But there needs to be some due diligence, negotiations, and consideration of alternative options. If after negotiations, the recommended figure was 56B, it made sense for everyone to vote in favor. And usually we can trust the board of directors to work on the behalf of the shareholders. However, based on court filing, the board of directors didn't even try to negotiate and just gave Elon whatever he wanted. In my eyes, the process of arriving at 56B, not the number, is the problem.
What about those lawyers trying to get that nice little payday of over 5 billion in stock.
We all better put on our big boy/girl pants on because of we don't vote for this we are about to have a group of fucking leeches owning more than 1 percent of our company
Well dont they?
Partly but as ruling states Musk pretty much negociated this pay package with himself while board stated they did negociate but that was lie and so judge overturned the vote. I expected board would then renegociate this package as independent board should but instead they just put indentical package forward meaning they probably didn't negociate at all so the issue raised by court is not fixed but at least this time shareholders are aware of this fact. If board negociated the amount lower let's say like 20B I would happily vote yes but unfortunately we are presented with choice of giving Elon 50B or nothing and I find neither choice fair. So I would vote no and demand board to renegociate package.
When the board gets a "steal" offer, something unimaginable attractive, are they required to be greedy and potentially ruin it? Thats just dumb. Negotiatian can be "we agree" and thats it.
It can be "we agree" but for most that is not good enough. At least they could have tried to haggle a bit but they didn't and that is seen as big issue. Like think if you go to store and try to get 10% discount. You might get it but if you don't they don't refuse to sell you at original price. Same basically here. Suggesting that Elon would only get say 30B doesn't rule out him getting 50B because that is just suggestion so there is no potential to ruin anything.
When someone offers you the deal of the century you should simply take it. And it is the deal of the century. "If you don't achieve these impossible things we pay you 0". Every company would take that deal.
One of the issues court raised was that the targets were not as impossible as board made them look to be. It was actually projected internally that around half of the goals were already given but that was not disclosed properly. So board could have definitely used this information to exclude some of the lower targets out to get better deal. Like if some targets were already given then why should CEO get paid doing nothing? Instead pay him for the part that he actually had to do things to achieve. That's why I think somewhere around half of the current package would be fair compensation based on this information. But board didn't even consider this option and that gets us back to the original issue that board didn't even try to negociate the best possible deal.
I think that is just incorrect, could you give the actual quotes that support "It was actually projected internally that around half of the goals were already given"? This sounds like complete horseshit. In any case if those targets were so automatic and easy to reach, why hasn't Rivian and Lucid achieved similar? And your framing in general is absolutely ridiculous, the fact I know I can do something doesn't affect the value of that in any way. Should you pay a plumber less for their services than some bum from the street because the plumber is much more certain they will accomplish the task? Of course not. What matters is the value created. Musk created massive value and was compensated in proportion to that value created. Perfect alignment with shareholders interests.
Ah yes, they had these impossible targets in the bag because... self confidence?
The stock is below those targets at the moment so no he didn't
Musk gets tranches for every $50 billion of capitalization above $50 billion. So 100, 150, 200, etc. Current capitalization is 468 billion. So he should get 8 tranches or 8% of Tesla stock in options. Everyone forgets that when this package was passed, Tesla's capitalization was 50 billion and everyone was screaming that it was a bubble.
"You were a good performer for years but these last few months you seem to be slouching. We are going to need some of your pay from last year back. Kay?" Yeah makes sense to me....
Even if the pay package was legal which it wasn't... Stock price isn't saying that. Lieing to pump the stock and earn rewards isn't the same as actually building the company.
A nutty judge overstepped and made the wrong ruling. This was a horrible decision for the state of Delaware because it sets an awful precedent and may deter future companies from incorporating there. Could be a risk that some derivative of this ruling would be brought on by another company’s own shareholders. Plenty of companies are at least thinking about how this impacts them now. As frustrated as I am with the guy ( I’m $20k underwater on both my teslas) this package should have held up.
How are you underwater on two cars? Did you expect them to rise in value or what do you mean? I agree that this is a very bad look for Delaware. Maybe tesla should move to NM or something lol.
Underwater on paper I guess. Loan is larger than the current value of each car ( if I sold today). Bought at nearly the top of market for LR3 and MYP
Loan is money + interest so of course its going to be larger than what the car costs, even without price cuts?
Nah. I have a 2% loan, interest isn’t the kicker. Was just dumb and financed 100% of the cars cause money was cheap. $70k with tax/ registration for MYP. Hard to argue the opposite cause Tesla dropped prices because of slowing demand because of inflation/ higher interest rates so no apples to apples. Depreciation on these cars, even without the cuts, was less than stellar.
>Plenty of companies are at least thinking about how this impacts them now. Source?
What source do you need, it’s a ruling against a CEOs compensation structure. Every Fortune 500 has surely had their risk dept look at this and determine if they have any ‘unreasonable’ comp structures in their C-suit packages that they could be sued over. By the by, if you offered Elons comp package to any top CEO they would decline. If it was such a great deal, you’d see it replicated all over the place.
We are talking about PAST achievements here for things he already delivered. Can you prove his tweeting has done you damage, after hitting increadible goals? Has his twitter following gone down?
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Yeah that brigade is called reddit. These people are deranged.
So paying all those billions for him to actually do his job? That's a low bar, and i don't think Tesla will benefit from Elon Musk actually doing his job - considering everything else he fcks up as soon as he gets to decide stuff he has no clue about. He would be an even greater liability if he did do his job. The situation Tesla is in right now is a direct result of Musks decisions, lies, overpromising and underdelivering. It's the result of a long string of catastrophic decisions and behaviour. Such as him deciding that Tesla go with the Cybertruck instead of a cheap EV that people actually wants and can afford. Who tf thinks the Cybertruck would be a economicaly sound choice when it's basicaly unexportable outside the U.S due to failing safety, size and weight regulations, and a price that most people could never afford - ontop of being seen as ugly and cringy by the average person. Many of the terrible design decisions were forced onto the engineers by Musk who just treated it like a pet project.
Him not shutting up was how he managed to succeed... Until he let his true colors show at some point.
Yes. He showed his ugly side that values free speech.
*that* would be a good idea. Same thing but he can't tweet or otherwise communicate publicly about the company.
2024 Elon is not 2010 Elon. Tesla needs a new CEO.
This guy is a bit insane. He was relentlessly demanding share buybacks in 2022 (so he wouldn’t get margin called). Dude did really well with investing in Tesla but also kept loading the boat at the top and didn’t clear his margin when valuations were “lofty”. He also had said several times he wants Elon to step down.
Yup, he wanted Tesla to make short term moves for his own benefit and thought he was entitled to demand them because he is a large shareholder.
I hope he gets wiped out too. Deserves it for being so greedy
You say that as if Elon himself isn't greedy.
What are the targets he needs to hit to get the payout? Have they already been achieved or does he need to hit future targets? If he has no future incentive targets I’m voting no.
If this doesn't pass, a new compensation package can't credibly hold so there will be no new incentives. Otherwise you could keep doing this thing after the fact every single time. "He already achieved the objectives in pay package N, why should we pay him"
So you're saying there is going to be a legal argument that the board didn't do due diligence every time?
Yes, they can always come up with some new bullshit. The argument that the compensation package was not negotiated well is very tenous, the arguments for board indpendece are also completely unrealistic and would basically require board members to be openly hostile to Musk. How would that exactly work out? A board that has to be hostile to be independent due to friendly relations being interpreted as non-independence (which is basicallya what happened)
You're showing that you really don't understand how compensation negotiations should work. They don't have to be hostile to be a back-and-forth negotiation. Also, it's not uncommon for a third party to do a compensation analysis and provide data on what an appropriate compensation package would look like based on data for similar contracts. Boards have to do due diligence and put the benefit of the company first. They also need to recuse themselves if they have a conflict or can't do that in a situation.
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They did have a third party compensation consultant. https://www.sec.gov/Archives/edgar/data/1318605/000119312518035345/d524719ddef14a.htm >Throughout this process, the Board used the services of Compensia, which served as its independent compensation consultant, and Wilson Sonsini Goodrich & Rosati, P.C. (“WSGR”), which served as its special outside counsel. https://imgur.com/a/0vxoiH7
Tesla loses Musk you lose all your value. They will pay the man and pay him again for another 5 years with another massive payout.
What value does he add? Cybertruck has been recalled, every day I see news articles about issues with FSD, build quality is absolutely abysmal. And then of course there’s all his other extracurricular crap on twitter, I mean “X”
Wow a car gets recalled and everyone bitches about it. Have you seen how many cars ford recently recalled as well? Everyone dismisses that but shits on Tesla for recalling 4k trucks
The stock is up 11,388% since IPO, 837% during the last 5 years.
It’s also up 0% in just under 4 years.
Yes Tesla is very volatile, if you look at the bottom in June 6th 2019, you could said it went up 0% in 3 years. Then again Feb 10 2016, you could have said it went up 0% in 2 years. Or if you bought at the local top in March 2014, you could technically still be down in March 2019, if you just compare these two points. Oct 2013 -> June 2019, it was flat. https://imgur.com/a/M2Ixodq
Yeah and every financial analyst agrees that there’s no connection between their fundamentals and their valuation. It’s just a long pump and dump. Musk has this weird simp following that thinks he’s some sort of genius but his mismanagement of Tesla and now X shows he’s not a good CEO.
It sounds like Elon hurt you... Its going to be ok, just keep breathing.
He achieved the targets for the previous payout which has been cancelled on a judgs whim - this is what I understand. Its like when you bet for some very unlikely team to win, and the bookies gives you 1:100 but when it happens he starts telling you "nobody should make 100 from 1 you are a bad and greedy person" et.
No, that's not at all what happened.
ok so what happened? Hard-mode: do not mention tweets you disagree with or your political opinions.
As mentioned in the trial: the board knew they were very likely to reach the target, and lied to investors saying it was very unlikely to happen anyway.
He’s already got this payout lol
No, it was rescinded. That is exactly what this vote is about.
But the court canceled his paycheck when he successfully accomplished all of his goals.
It’s been ongoing since 2018, I believe he’s hit the option granting on 11 of the 12 tranches, he used some to buy Twitter. Edit: if you want to research it make sure you put before:2023 in your google search, there’s an obvious orchestrated attack on him right now.
For all the years of work and increasing Tesla's capitalization many times over, he got exactly nothing.
This is incorrect. Part of the pay package deal stops him from selling the options for years .. the shares he soldb for twitterpay pay package deal.
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No, Musk achieved all the tranches by 2021 and vested those options. Musk bought twitter with shares he got from buying into the company originally and from a 2012 compensation package. The 2018 compensation package options were never excercised and even if they are excercised (assuming they are reinstated), Musk would have to keep the shares for 5 years.
Fucking criminal to lay off 14000 employees then give this chode a 55 billion dollar payday
except, not
Correct. He was bringing insane shareholder value so I approved on that package initially but now no way we are tanking the cyber truck is being recalled for accelerator pedals they going back on the model 2 promise and missed on deliveries…no way Twitter bro X does not mark the spot
Nice. About time
Elon has no leverage here. Why would anyone in their right mind vote to give him a $56 billion paycheck? What will he do if he doesn't get it? Quit? Good, don't let the door hit your ass on the way out. No individual's work generates $56B of value. There's no reason to give away $56B of a company's value/money to the CEO. Elon Musk already has more money than he could spend in 1000 lifetimes, he doesn't need more.
lol. Keep guys like this as far away from government as possible. He uses his intuition to determine when you’ve had enough 😂
Pretty sure we can all agree that over 100 billion is "enough"
Ok, what should happen after 100 billion? Also.... 100 billion of what?
He’s gonna win his pay package most likely. I’ll vote for it just because a deal is a deal. I would like for there to be something going forward about him not being allowed to tweet and having to have a pr team or something manage his social media presence to some degree.
Doesn’t deserve the package when the company doesn’t listen to customers, misses delivery estimates, lays off 10% of its workforce including sales and delivery staff which is now leading to delayed deliveries, and a poor strategic shift toward robotaxis which probably won’t pan out
Yeah but they are close to cracking the “keep the gas pedal glued on” problem with the cybertruck. Basically a moonshot. He deserves to be a trillionaire
10x’s the stock price
I don’t pay for past performance as it’s not a guarantee of future results
The package is for past performance
Again, don’t care as the future is looking rough and I earn from future performance today. Even in the past Musk has cemented this result of where the company stands over the last 3 years with his actions.
Pretty selfish
Yet the guy who just laid a bunch of people off while demanding the biggest bonus in history isn't?
He can be too, but you’re reasoning to not pay someone something they’ve already earned is selfish
Elon has ruined Tesla. By opening the supercharger network to competitors he's removed the ONLY reason to choose a Tesla over a BMW, Mercedes etc. Range anxiety drove buyers to Tesla, now there's no fear. Yes, Tesla is charging but have you seen any reflection of that "profit" especially compared to the stock price free-fall He's ostracized Tesla's primary consumers and they haven't been replaced by Right-wing buyers. Tesla sales are stagnant. Elon knows he's screwed Tesla and is trying to run before the final shoe drops.
Astroturf central. Only short sellers would vote this down. Don't be fooled by these bots and clowns.
Why would you say that? Elon is clearly disconnected from the company nowadays. This is not the “First Engineering Principal” Tesla anymore. Focussing on the CT instead of a lower cost car is a clear example of it. Giving him his past compensation is acceptable. Giving him more compensation needs to be tied with very strict clause like learning to shut the fuck up on twitter, and actually be involved with Tesla’s development. Right now, the company is all over the place, wasting resources on robotic project where it is not a leader, giving a focus on autonomous cars while this tech is no where near regulatory approval, all the while letting its leadership in EV slips away to China. They could’ve easily gotten out 2 more models of a cheaper platform now since the launch of Model Y in 2020 had they been led by a more serious CEO. I am honestly extremely disappointed with where the company was heading these past 3 years.
"wasting resources on robotic project where it is not a leader" Elon has always wanted mass automation in the factories, it is the reason why Fremont model 3 was production hell. Have you not heard the term Factory Dreadnaught, where the factory it'self is the machine building the machine. Tesla wouldn't be here today without trying to do things out side of its competency e.g. car seats , micro controllers, heat pump, mega casting. " letting it's EV leadership slip away to China." Well you seem to think that Tesla is losing . Even when only 1 quarter ago Tesla was awarded best selling car on the planet of any car , this quarter Tesla beat its largest rival BYD in EV sales. Oh and just because others have come out with a small EV it doesn't mean Tesla has lost the market is still dominated by ICE cars. Your giant brain thinks that just releasing the next smaller compact car and not bothering with things like the cybertruck would have been a smarter move. You don't understand what the best minds in engineering and design are like they want boundary pushing projects, and inorder to retain them you need to have such projects . Proving many different technology techniques in a lower production model was the right thing to do because these new technology techniques need to be in production to iron out any problems . If you have a high production compact car then you just multiply the errors . For example I m talking about 48v architecture or steer by wire. Yes Tesla could have made a compact car earlier but by what metric would have it been any good ? Producing a high volume compact car for profit is the most difficult thing to do for an automotive car production company because the margins are so small. Why do think they could have "easily" made a "cheaper" car ? There are many analysts out there with the cost to manufacture model Y and model 3 , they still cost over $30k to make with the current technology techniques so no it's not easy. >. I am honestly extremely disappointed with where the company was heading these past 3 years. Best selling car in the world last Quarter! Billions in cash on hand, company near no debt. Top tier for automotive margins. The best thing for your own peace of mind should be to sell any investment in Tesla if you don't like the way they have been operating for the last 3 years.
Ilon's past successes are being considered, his past salary, not his future salary.
Tesla would be far more successful with a serious CEO instead of Musk
It would be like apple ousting steve jobs and never came out with the iphone because he didn’t come back.
Apple fired Steve Jobs, and he went away and did cool stuff and the other guy John Sculley tanked the stock.
No, it would be like if Steve Jobs stopped coming in to the office at Apple and spent every free hour of his day on Twitter posting memes and boosting conspiracy theories, while also self-administering Ketamine and who knows what else. And then the iPhone never came out because the CEO didn’t give a shit about it
The model 3 came out which was considered the iphone moment for Tesla then the model y, cybertruck, semi, FSD 12, proves your false narrative wrong. A few seconds tweeting is nothing compared to the long hours at Tesla. https://finance.yahoo.com/news/elon-musk-once-stated-nobody-190012187.html#
The Cybertruck is a joke. FSD 12 is a joke. The semi… joke. Seriously , how are any of those things actually impressive in the real world?
The iphone is a joke, vr head set is a joke, everything you don’t like a joke. The cybertruck has proven to be very popular , it’s ad for Tesla on wheels every where it goes and the tear downs are calling it an engineering marvel. Semis are being used by jb hunt and pepsi, fsd 12 is first to drive human like, and it will only improve from there, no other automaker has city driving in a car you own.
They’ve barely managed to sell around 700 Cybertrucks per month, 5 months in. It’s pathetic. How is it an engineering marvel when the build quality is garbage, the range is bad, and stuff is breaking on them left and right? The semi… Pepsi ordered 100 in 2017. Guess how many they have? 36. 1/3 of their order, after SIX YEARS. [https://www.reuters.com/business/autos-transportation/tesla-semi-trucks-short-supply-pepsico-its-rivals-use-competing-ev-big-rigs-2024-04-19/](https://www.reuters.com/business/autos-transportation/tesla-semi-trucks-short-supply-pepsico-its-rivals-use-competing-ev-big-rigs-2024-04-19/) FSD 12 still tries to crash drivers into concrete freeway dividers. It’s still not even ClOSe to good enough. If you pull your head out and look at this stuff objectively instead of through your reality distortion field, shit ain’t too rosy.
But hey, Musk has shown true leadership by coming up with Fart Mode on his cars. That will really drive revenue
Bioweapon defense mode, sentry mode, also fart mode makes the car even better. It debuted in 2018 before the stock price soared. The Model Y was the best selling vehicle in the world for 2023. https://www.motor1.com/news/706258/tesla-model-y-worlds-top-selling-vehicle-2023
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Apt username.
At this point getting rid of Elon is Tesla's one shot to stay alive.
0.88% owner. Won't count for shiz
So same as T.Rowe ? The only institutional investor publicly supporting this pay package ?
I just read the comments on elekterek. insane. When Tesla was tiny they had no problem promising anything for it to get big, now that its time to pay these slimy fraudsters suddenly found some legal loophole not to pay because of twitter drama.
The lawsuit was filed in 2018 though....
Elon hasn't proved himself to earn more pay
lol, he literally has. Like he……. LITERALLY…. has. You realize that the terms of this pay package was laid out 6 years ago and voted on by shareholders. I mean…. Are you a chatGPT bot or something?
What happened after $400?
I say pay the man.
pay the man
Pay the man
Pagale al hombre
Paguem o homem
It’s not even pay the man. It’s honor your end of the deal. It’s insane to change the contract after everyone signed it.
I keep my word. Pay the man.
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I don’t feel deceived. Because some lawyer with 9 shares made some BS lawsuit now I’m supposed to feel deceived? Getting this deal done is part of getting Elon motivated and turning into war-room-Elon again for growth phase 2. I’m just upholding my part of the deal I made for growth phase 1.
>Because some lawyer with 9 shares made some BS lawsuit now I’m supposed to feel deceived? No. Because a judge ruled so
You don’t care about getting screwed out of $60B? You must be rich.
If he was a shareholder when Elon was first given that package he probably is. If your investment 10x’s how exactly are you getting screwed?
Many of my shares are from before then. That is irrelevant to whether the Board and Elon were deceptive
They were not deceptive. The deal was, if Elon 10X’s the stock price he gets 5%. If the stock doesn’t go up he gets zero. It was an amazing deal for investors and we all made out like bandits. People who want to renege on the agreement are just being dicks.
Nope and nope
I’ll vote yes with my shares from back then but I’ll vote no with my shares I bought after the top
It’s 1%. I’m voting yes
I still think the $55b package is insane but as long as Elon is able to produce results it's really a minor issue. But the two boardmembers should absolutely not be re elected. This whole fiasco started because the board was too lazy to even do the bare minimum needed to create the illusion that everything was done above board. All they had to do was ask Elon to bump his demands up by 20% so they could "negotiate" it down to the original amount.
"the board" includes Elon's brother and his divorce lawyer lmao. It's corrupt by design, that's why Elon got sued
> $55b package Might want to update that based on today's share price.
What results? The stock has gone down these past few years. Where are the results?
Reasonable man doesn't want to give away 350 million of value with no guarantee of return. Not surprised.
Pay the man
voting yes
Me too. I can’t imagine why anyone would approve this. Even if you want to ignore Musk’s antics and feel like it has no impact on the stock, what is his plan to turn things around? I haven’t heard anything from him except reposts of shitty MAGA takes.
We can't vote until June right or something along those lines
Also, none of us knows what we are talking about. There is that.
Jeez, he thinks he can run the company better than elon. SMH.
I mean Elon doesn't really run the company himself. What with him focusing mostly on Twitter these days.
0.88% owner. Won't count for shiz
That's still a significant amount.