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Elon Musk is taking on Tesla ‘oathbreakers’ in fight for his $56 billion pay package
Vote yes or get branded an “oathbreaker.”
“The excessive size of the award, both on a pure dollar basis and in terms of the dilutive effect upon exercise, remains very much top of mind,” proxy firm Glass Lewis wrote in a recent report. Amid all this uncertainty, Musk is pushing for more control over Tesla, arguing he needs at least a 25 percent ownership stake in order to steer the company toward a future dominated by artificial intelligence and robotics. Tesla is now asking shareholders to re-ratify the same proposal while also approving swapping the company’s state of incorporation from Delaware to Texas and to reelect two board members, James Murdoch and Musk’s brother, Kimbal.
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