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Link: Tesla Harnesses an Influencer Army on $45 Billion Musk Pay Vote — The Information

On the ballot is a Tesla proposal to reinstate a gargantuan, $45 billion pay package for Musk, the Tesla CEO, a move intended to reverse a Delaware judge’s recent decision that voided the award. That ruling so infuriated Musk that Tesla announced a plan to reincorporate in Texas from Delaware, a plan that shareholders will also vote on in June. Tesla’s board has portrayed the vote as an almost existential event for the electric vehicle maker and a fight for “stockholder democracy.” Last Monday, it released a video with an ominous warning for shareholders: “The present and future value creation that Tesla is poised to deliver for all of you is at risk.” That’s where individual Tesla shareholders like Merz come into the picture. While Tesla’s board is seeking to sway institutional investors through a formal roadshow, the vote is likely to depend to a much greater extent on individual investors than similar proposals do at other large tech companies. Individual investors hold 42.54% of Tesla’s stock, nearly double the figure for Alphabet, according to S&P Global Market Intelligence. #


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