Tesla's board is trying to woo its unusually large base of individual investors to endorse Chief Executive Officer Elon Musk’s $56 billion pay package.
Tesla Inc. is looking to woo its unusually large base of retail investors to get approval for Chief Executive Officer Elon Musk’s $56 billion pay package.
“We don’t believe one judge’s opinion should void the will of millions of votes cast by all of the owners,” Denholm says in the video on the Vote Tesla website. Merz, a Santa Barbara, California, resident known as “Tesla Boomer Mama” on X, has created tools to help Tesla shareholders write to large index funds and ask to vote shares that may be held in retirement accounts or other accounts they don’t manage directly.
Tesla’s financial performance has been flagging amid a global slowdown in electric vehicle sales. Days before the company asked shareholders in a filing to support Musk’s $56 billion pay deal, Tesla said it was cutting global headcount by more than 10%. KoGuan said he’ll also vote no on a separate proposal to move Tesla’s corporate domicile to Texas from Delaware, where the judge struck down Musk’s pay deal. Tesla already moved its corporate headquarters to the Lone Star state from California in December 2021. This week, the company said it’s running sponsored ads to vote for both proposals.
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