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It still has that verbiage.
I think it's enough if he remains CEO + chief of product. Not tied to chairman role.
the same verbiage is in here.
Musk just settled! In as CEO, must resign board position. Yay Tesla.
Man.... this really worked out for all of us. Think about this.
1) We get Elon as CEO now for AT LEAST 3 more years HAHAHHA
2) Elon has to stop tweeting things unless they are approved by Tesla (YESSSS)
3) Elon is going to focus 100% on deliveries now!
4) We all greatly expanded our legal knowledge through this practice exercise (who else learned wtf 'Scienter' means)
1) We get Elon as CEO now for AT LEAST 3 more years HAHAHHA
2) Elon has to stop tweeting things unless they are approved by Tesla (YESSSS)
3) Elon is going to focus 100% on deliveries now!
4) We all greatly expanded our legal knowledge through this practice exercise (who else learned wtf 'Scienter' means)
MTL_HABS1909
Active Member
I thought the exact same thing as soon as I read the news!
Yeah, I'm actually really happy that there will finally be a formal muzzle that can be applied to Elon's tweeting. No more short burn of the century. No more pedo guy. No more financing secured.
It was a painful road to get here but I have a feeling the worst may finally, really, actually, truly be behind us. I've waited more than 2 years now for returns on my investment, while AMZN has multiplied by 4x during the same time period. It's time to finally get some goddamn rewards for my long-standing loyalty, holding shares long while the stock price shot upwards and downwards after every ridiculous Elon tweet.
I wonder if he traded the extra year ban for the 45-day implementation delay? Maybe he didn't want to quit before Q3 earnings and the short burn.
ZachF
Active Member
Kimbal for board president plz.
Not just because he's his brother, but because I've grown to really like the guy the last few interviews he's done.
Not just because he's his brother, but because I've grown to really like the guy the last few interviews he's done.
I think he agreed to get someone at Tesla to control the content of tweets related to the company. This would be good, Tesla stock has been hurt badly by EM's Tweets. I just wonder why he couldn't have agreed to this before the 14% drop. He sure hates the shorts but seems to feed them every chance the stock gets a break. I don't think the 20M will hurt as badly as the 420 has hurt the retail investor.
I hope EM discovers how much damage he does on twitter. ($20M would wake me up, but I doubt it is enough to matter to him.)
Regarding Mark Spiegel... only money seems to matter to him, he is obviously euphoric, which usually means it is time for the reversal in momentum.
I hope EM discovers how much damage he does on twitter. ($20M would wake me up, but I doubt it is enough to matter to him.)
Regarding Mark Spiegel... only money seems to matter to him, he is obviously euphoric, which usually means it is time for the reversal in momentum.
Most interesting part to me is that he has to submit to tweet supervision. Good long term IMO.
ebyard
Member
Could be a minimal shareholding. No big issue, Elon and Kimble can take a bit of a haircut.
Need a lawyer to interpret the consequences of paragraph 13.
Kimball is a shoe in for Chairman. Make NO mistake .... it's still Elon's board. Period.
Thank goodness he agreed to this ... we don't need this distraction ..... lesson learned ... slap on the wrist ... in a few months no one will even remember it happened.
Cheers to the longs.
Edit: I wish the settlement had something in it barring Kimball from wearing that hat.
Thank goodness he agreed to this ... we don't need this distraction ..... lesson learned ... slap on the wrist ... in a few months no one will even remember it happened.
Cheers to the longs.
Edit: I wish the settlement had something in it barring Kimball from wearing that hat.
sundaymorning
Active Member
Just a guess:
My guess is that Elon and the board also brokered a deal for him to sponsor a Chairman he trusts, his brother Kimbal. My bet is that Kimbal becomes the new chairman and we’re back to business.
Chairman secured. Pending shareholder approval.
My guess is that Elon and the board also brokered a deal for him to sponsor a Chairman he trusts, his brother Kimbal. My bet is that Kimbal becomes the new chairman and we’re back to business.
Chairman secured. Pending shareholder approval.
Where does it force the board to oversee things. It just says that if the board makes rules Elon has to follow them.
It still says that...
Chickenlittle
Banned
I agree. I am disappointed with this, I thought the case weak but this dragging on past feb would hurt the company more. In my opinion SEC afraid to have egg on face with eventual loss wouldn’t even wait till Monday to settle
I was wondering too, so I checked the Tesla IR for the compensation package. It says this:
"Elon must remain as Tesla’s CEO or serve as both Executive Chairman and Chief Product Officer, in each case with all leadership ultimately reporting to him"
So it seems to be intact.
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