Tesla Investors Urged to Vote 'No' on Musk's Pay Package

Watch Tesla Investors Urged to Vote 'No' on Musk's Pay Package - Bloomberg on Dailymotion

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00:00I'm reading the the glass Lewis note and they're worried about I think shareholder dilution but

00:06just summarize why they're proposing and recommending voting against this comp package.

00:12Yeah I think you put the nail on the head there in terms of dilution being an issue I think

00:18and this goes back to you know sort of criticism that you know the the judge in Delaware sort of

00:25level that at the initial pay package that Tesla's board arranged for Musk back in 2018.

00:32This is a case of a CEO who's already quite aligned with the future of his his company by virtue of the substantial

00:41stake that he has in the company. And there is a question on the part of of you know these proxy

00:47advisers of just you know to what degree is it is it necessary or appropriate to hand over more

00:54control of of this company and issue so many shares that would dilute the current shareholder base of of Tesla.

01:03Now Tesla Craig has said that the glass Lewis recommendation is quote misguided and an ex post

01:09and they're talking about the recommendations attempting to override the mandate of our shareholders

01:13delivered to Elon and ignore the staggering financial results that were delivered under Elon's leadership.

01:19Just what is the argument coming from the business right now.

01:21Yeah I think it's interesting because you know you you sort of at some points I hear Tesla you know

01:30talk about the idea that they're more than just a car company and yet it's interesting that they

01:35they sort of compare their performance versus other car companies and and they're by virtue of doing that

01:42comparison you know make themselves look you know awfully different from from these companies that for a long

01:48time they've said you know we shouldn't be compared with those with those companies. So of course there

01:54there is you know some some some reason to sort of celebrate the returns that this company has managed

02:02under Musk we should acknowledge that as well.