I don’t think Elon would leave Tesla if this fails. He would be offered another compensation package. I think he’d also know that asking for compensation for past achievements will be a tall order. I hope it passes but I do have my doubts.
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Elon Compensation Package
- Thread starter Buckminster
- Start date
When Elon was selling those shares he was assuming that the compensation plan would go through, allowing him to get his 25% stake back. So no contradiction here.
adiggs
Well-Known Member
Truly - invalidation of his 2018 compensation plan is unprecedented. Really really hard to assume that was going to be invalidated in its entirety, and the shareholder vote that overwhelmingly authorized it would be nullfied.
mspohr
Well-Known Member
Major Tesla shareholder criticizes Elon Musk amidst pay vote
One of Tesla's largest individual shareholders has spoken out against CEO Elon Musk and his stake in the company, as investors vote on the...
www.teslarati.com
mspohr
Well-Known Member
Didn't Elon already leak the results of the voting? (Probably against SEC rules)
No he didn’t. He just said 90% of retail voted yes. But we don’t know how many retail actually voted. That’s the kicker since you need 50% of all voters, whether they voted or not to say yes.
mspohr
Well-Known Member
mspohr
Well-Known Member
I think the SEC has rules about disclosing results before all the votes are in... at least that's what I read on the Internet.
mspohr
Well-Known Member
Here's an interesting article...
electrek.co
Public companies generally only release the results of a shareholder’s vote at a shareholder’s meeting once the voting is done.
This was actually a problem with the recent Disney proxy battle. Some investors called for Disney to be investigated by the SEC after vote results were leaked to the media prior to the vote being close. This was seen as a PR tactic by Disney since only the company and its advisors could have had access to the results for them to be leaked to the media.
Now, in this case, Tesla’s CEO is directly releasing some of the results publicly.
And with the vote now being days away, I doubt Elon will be able to stop himself from putting his foot in his mouth. It’s going to be a messy week that will be under a legal microscope in the coming months.
Like this comment for example, Elon is publicly agreeing with a statement saying that the vote is not about his compensation package but about “shareholder democracy” being suppressed by a “random activist judge”.
An officer of Tesla can’t be saying that publicly and not expect it to come up in the inevitable litigation around this issue. Elon is a legal liability.
Elon Musk leaks results from Tesla's shareholder vote as messy week begins
Elon Musk has leaked some of the results from Tesla’s shareholders vote as a messy week begins for the shareholders...
electrek.co
Public companies generally only release the results of a shareholder’s vote at a shareholder’s meeting once the voting is done.
This was actually a problem with the recent Disney proxy battle. Some investors called for Disney to be investigated by the SEC after vote results were leaked to the media prior to the vote being close. This was seen as a PR tactic by Disney since only the company and its advisors could have had access to the results for them to be leaked to the media.
Now, in this case, Tesla’s CEO is directly releasing some of the results publicly.
And with the vote now being days away, I doubt Elon will be able to stop himself from putting his foot in his mouth. It’s going to be a messy week that will be under a legal microscope in the coming months.
Like this comment for example, Elon is publicly agreeing with a statement saying that the vote is not about his compensation package but about “shareholder democracy” being suppressed by a “random activist judge”.
An officer of Tesla can’t be saying that publicly and not expect it to come up in the inevitable litigation around this issue. Elon is a legal liability.
No there isn’t. Just regular FD disclosure — i.e., release to the public rather than selectively to certain parties. But funny to watch people speculate and manufacture nonsense to get outraged about.
But if he does leave, that would be a net benefit. It is not that he has brought little to Tesla - in my view, he has done a lot, for the company and for the development of EVs generally. But it is also my view that at this point his negatives outweigh the positives that he brings. Further, there is much more talent at Tesla - past and present - than just Elon Musk and I have confidence that the company would be well led if he left, perhaps by one of the many employees who have departed under his recent leadership.
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