Tesla Shareholders to Vote on Musks Board Seat and $158 Billion Compensation Package on December 3
Teslas annual shareholder meeting on December 3 will address Musks re-election and executive compensation proposals.
New Delhi, October 20 (Daily Kiran) : Tesla has scheduled its annual shareholder meeting for December 3, where investors will vote on the re-election of CEO Elon Musk and other board members. The agenda also includes advisory proposals on executive compensation and the appointment of the company’s auditor.
According to proxy documents filed with the U.S. Securities and Exchange Commission (SEC), Musk, Chairperson Robyn Denholm, and director JB Straubel are nominated for three-year terms. Shareholders will also be asked to approve the executive compensation package for 2025 and confirm the appointment of PricewaterhouseCoopers (PwC) as Tesla’s independent auditor for the fiscal year ending December 31.
The proxy statement indicates that Musk’s total compensation for 2025 is valued at approximately $158.36 billion. This figure includes stock-based awards, but it does not mean that Musk will receive this amount in cash. The awards are contingent upon achieving specific targets related to the company’s market capitalization and operational performance.
Tesla previously reported in May that Musk’s actual compensation for 2025 was zero, as none of the 12 installments tied to the incentive program were earned. The equity package consists of about 423.7 million restricted shares, which Musk will receive only upon meeting predetermined goals. Additionally, any earned shares must typically be held for five years, though exceptions may apply under certain circumstances.
The annual meeting will take place at Tesla’s Gigafactory in Austin, Texas, at 3 p.m. Central Time. Participants will also have the option to join online. The proxy documents mention several board-level relationships between Tesla and SpaceX, although there is no indication of a potential merger between the two companies.
On another note, SpaceX, backed by Musk, is set to announce its third-quarter results on Tuesday. Following its listing, the company’s shares have dropped nearly 35% from their post-listing highs, marking the second quarterly earnings report since going public in June. The stock has experienced significant volatility during this period.
