Musk pay package: What's incentivizing shareholder votes

Tesla (TSLA) shareholders are currently voting on CEO Elon Musk's staggering executive pay package valued at $46 billion, based on the EV maker's current stock price. The California Public Employees' Retirement System (CalPers), which holds 9.2 million Tesla shares, disclosed it will vote against Musk's compensation package.

Yahoo Finance Legal Reporter Alexis Keenan explains what Tesla shareholders have to gain from approving the pay package — a major incentive in keeping Musk on as CEO — and the reasons why shareholders would vote it down.

Yahoo Finance shared a poll at the start of the trading week, asking whether Tesla shareholders should approve Musk's pay package. Well over 400,000 respondents have participated in the poll, 96% of which voted "No."

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[fredd]

I don’t have to watch this. He did his part. The contract should be honored. That’s it. If you don’t like it sell your stock, I buy it cheap.

[richardlawton]

The guy is a con artist. He cashed out at the stock peak to buy twitter despite saying he wouldn't. Now he wants a pay package bigger than the lifetime profits of the entire company!

[Longball]

He sucks as a CEO. He shouldn't get a package. He shouldn't collect any pay. He's non essential. He's an absentee CEO who focusses on other businesses. He's out of ideas and just doubles down on vehicle tech. People dont want Tesla's anymore. Making them more AI doesn't make a difference. He needs to start building Hybrids.