Just so I can vote "No" on the latest attempt to grant Elon Musk a $56,000,000,000.00 pay package again.
I'm not going to though. I do index funds, not individual stock trades.
On the other hand, I'd love to see a proxy fight and some lawsuits over this:
A Delaware court may have voided Elon Musk's $56 billion Tesla pay package in February, but now the board is asking shareholders to reinstate it.
Tesla filed its 2024 proxy statement with the US Securities and Exchange Commission today that includes several shareholder proposals, most notably votes on restoring Musk's massive pay plan and to move Tesla's legal home from Delaware to Texas.
Musk's pay package, which would have awarded him all that cash in stock options for meeting certain growth milestones, was voided in February after a Delaware court decided it was unfairly approved by the board due to Musk's close ties with members and substantial influence over his electric car company.
That's a nice way to say that Elon and the board are corrupt rat-f%$#s who have been looting the company at the expense of the shareholders for years.
………
"The Board stands behind this pay package. We believed in it in 2018, as we asked Elon to pursue remarkable goals to grow the company," Denholm said, calling the pay package "a matter of fundamental fairness and respect to our CEO."
Tesla's board – Denholm among them – settled a case with shareholders last year that accused the company of awarding oversized pay packages to board members. Denholm, Elon's brother Kimbal Musk, and others agreed to return more than $735 million to Tesla coffers as part of the settlement.
Well, that does not sound corrupt at all, does it?
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