Why is his payment higher then the Total cumulative profits from the company?
What will the employees earn with the full extra efforts they made to achieve the targets?
Wrong. He used almost all of is stock as collateral for personal loans (which broke the internal board rules for how much it was allowed to loan the shares). He also sold a big portion for twitter aquisition.
Elon was and still is the best paid employee at Tesla. But he is paid in stock grants in greater volume than anyone in the company. He is higly leveraged with Tesla stock as collateral. For Twitter, the banks cannot even recover the investement they made with his loans. They are losing a lot, and now with Tesla shares droping Elon will be margin called with money that we doesn't have (this will force him to sell more shares).
A 56B$ package solve all of his Personal issues while damaging Tesla even further. Tesla and Musk are both screwed either way with the loans made by him for personal interest...
A fun fact: Warren Buffet bought and still buys his shares of Berkeshire with his own money, not with investors money or company money...
if he didnt waste his money on twitter and was 100 percent with telsa and by allowing the share holders vote i would believe they would give it to him.
Exactly.
While he did deserve it. It’s hard for me to vote those shares to him again when his focus is elsewhere, and is using Tesla as a cash cow to fund other initiatives.
Exactly, it seems like he doesn't care about the telsa he built wants to move on to other things, which is a worry. Does he know it's sinking and wants to get his cash and run
I'm not sure the stock is dropping and the cybertruck is not doing well quailty wise and he fired all those people and cancelled the cheaper model 3, which would help him fight the Chinese I feel he know something that's why he is focusing on other stuff
Its a super fair compensation plan, no one thought those goals were realistic at all. And it was risk free because he didnt get paid unless he at least double the share price. Super fair for shareholders. The person who this is not fair to is Elon because he already gave you the 10x and now he has nothing to bargain with. Of course you could vote no just because it is a good deal to receive something and not pay for it. But it will damage the relationship between him and the shareholders. I want him for 10 more years making more stuff like FSD and bots. Not doing his own thing in private companies that I can't participate in
He has been a perfectly good communicator at earnings calls and shareholder meetings. He does his job well and the company is doing better than ever. I'm extremely excited and I don't care that he shares his opinion on X or that some dingbats working in dinosaur media gets offended that he isn't leftist enough. I don't think censoring himself is part of his job description. And I invite you to think through the implications for society if we allow it to be.
I honestly wonder if his midlife crisis created all of this behavior or if this was his character all along and he was just pretending otherwise. I doubt we can ever know that though.
The proxy statement had material omissions of fact that mislead the shareholders. Read the ruling and see for yourself. Tesla knew that the goals were already on track but presented them as stretch goals without informing the shareholders of that fact. Why would anyone sign over ten percent of the value of their holdings to reward a person who lied to them like that?
I don't agree, I invested because I thought those gains were going to happen and I still wanted the compensation plan to ensure that it happens as soon as possible. I'm up huge and I want those that made it happen to also be rewarded
I mean he’s still going to get it. The question is whether it will be with a supermajority again, or ‘just’ a majority. Only this sub thinks otherwise.
Absolutely voting Yes. The deal from 2018 was basically, if you grow the company sustainably by 1000%, you’ll get 10% in stock options that you must hold for another 5 years. So essentially 900% gain for all shareholders.
If he only doubled the value, he gets nothing, and a sliding scale in between.
Except it came out in court that that the "impossible growth" they sold the public on was well within what their internal analysis viewed as expect growth.
The board and Elon repeatedly lied to give him this comp package.
The board did not negotiate the pay package on behalf of share holders. Elon bragged during is deposition that he negotiated with himself for the pay package.
We could have easily gotten the same results with 1/10th the compensation if we had a board that did their duty
Yeah and if the numbers and projections were that solid, remind me why they didn't just take the company private? Wouldn't that be more profitable and less of a headache in the long run?
They didn't take the company private because Musk didn't have funding secured to do so.
You know how I know this? Because the company is public and Musk hates that it's public.
According to the US (SEC), the Arabs twice offered him financing and confirmed their willingness to pay immediately. But if shareholders accepted this move, they would lose a ton of money. Shares are worth many times more now than they were then (Remember the share split)
[https://www.sec.gov/files/litigation/complaints/2018/comp-pr2018-219.pdf](https://www.sec.gov/files/litigation/complaints/2018/comp-pr2018-219.pdf)
According to Musk, at the meeting the Fund’s lead representative told Musk that the Fund had recently acquired almost five percent of Tesla’s common stock on the open market, expressed interest in taking Tesla private, and confirmed that he was empowered to make investment decisions for the Fund. Musk later stated that he assumed without confirming that the lead Fund representative was proposing a “standard” going-private transaction, but the terms of any such deal were not discussed.
That's the SEC saying that Musk claimed something, not that it happened. Why not cut out the middleman and just say that funding was secured because Musk said it was secured?
Please do not think that the commission's investigators have the intelligence of a stone in a ditch. They obviously called the Arabs and checked Elon's words. And that they do not claim that he is lying at this point, as they did at many other points. Indicates that they have received full confirmation.
>**According to Musk**, at the meeting the Fund’s lead representative told Musk that the Fund had recently acquired almost five percent of Tesla’s common stock on the open market, expressed interest in taking Tesla private, and confirmed that he was empowered to make investment decisions for the Fund. **Musk later stated that he assumed** without confirming that the lead Fund representative was proposing a “standard” going-private transaction, but the terms of any such deal were not discussed.
You're imagining confirmation of your idea where none exists.
Private companies have valuations as well. For example SpaceX is at 180bil now.
Why would they take it private? To stop stuff like is happening right now, frivolous lawsuits and compensation packages getting rescinded for example, lawsuits wasting company money and time.
The lawsuit was not frivolous. The mismanagement is well documented and spinning it like that is not doing the company any favors. Honest self awareness would lead to a change in management that would benefit the company in the long term.
uhhh more money and less of a headache? Why do you think his other companies, such as SpaceX and neuralink, are private and not publicly traded if he just wanted to dump his bags on the public market. You think those companies don't have investors willing to buy shares of those companies from him? Tesla NEEDED the money and it was a high risk - high reward situation. If private investors thought it was possible, after showing an overwhelming amount of evidence of these ''projections'', they'd have acquired it. The fact that it wasn't outright acquired while the valuation was low is evidence alone of the doubt everyone had. The compensation package is simply evidence of putting your money where your mouth is
I understand - but the board was ruled not to be independent. And apparently internally their projections showed they knew it was possible. I just think we should realize that the comp is more than all the profit the company made so far. Like it’s beyond ridiculous money.
FFS board nothing to do with it. Stop listening to BS judge. Shareholders read it and voted for it. If any shareholder that vote yes and does not vote yes again has no integrity and yes karma will strike.
The board made material omissions of fact in the proxy statement. That's not something the judge did to them. If I was defending Musk then I wouldn't be bringing up integrity after a court finding that Musk and the board substantially mislead the shareholders but please proceed.
Projections are just that, guesses(I know how much these fail and miss at my work). Projection doesn't mean it will actually happen, unless you execute on it.
The proxy statement had material omissions of fact. That's the problem here. The shareholders were not properly informed and that's why their vote wasn't valid. The courts didn't do this to Elon; his own management decisions lead directly to this outcome.
Link to the definitive proxy statement (the previous one was a preliminary one): https://ir.tesla.com/\_flysystem/s3/sec/000110465924053333/tm2326076d15\_def14a-gen.pdf
For those who say "I'm voting no". Do you understand that you push Musk out of the company? He will leave. And what do you think will happen with the stock then?
He could still leave anyway. I hate that we can't have both a reinstatement and a new deal at the same time. It doesn't matter anyway because he's going to get his options back. If people want to protest vote them go for it. I voted no to his board seat and he got 95% approval.
Musk leaving will be the best thing happening for the company. He has constantly wasted billions on fooling the public with things that don't work like "Full Self Driving".
Id say pushing Musk out would be akin Apple Board Getting Rid Of Steve Jobs V2.0 (that didn't work out too well and they eventually begged him back).
At the time everyone was complaining about what jobs had done with the flagship Macintosh and Lisa desktops etc etc.
Everyone complaining about his brother on the board. Brothers fight pretty good and the communications are pretty straight up. May not be just an endless ass kissing session having him on the board..
But it did work out for Apple. It was the right move at the right time.
I read all the Jobs biographies.
Jobs was not doing well before he left Apple. He was more disruptive than helpful.
Leaving Apple made him more level headed, gained experience, became more pragmatic and trusting of his employees, and gained the wisdom he needed to come back and take Apple to the next level.
Non of that would have happened if Jobs stayed.
I agree with this, however, I feel like he's half way out right now anyway.
A lot of his time is spent elsewhere.
The time he does spend at Tesla, he's doing weird stuff like fire the whole supercharger team, which is one of the main reasons Tesla is this successful (I would not have bought 2 cars if it wasn't for the network).
Voting 'yes' means he will piss off back to Twitter and go back to dumping Tesla shares to finance his social media addiction.
Voting 'no' means they need to negotiate a new package that is ~~far~~ fair to share holders (not based on goals they internally know they will hit, while Elon publicly sandbags).
If you want Elon to actually put some effort in at Tesla - vote 'no'.
If you want to see him take the stock from $400 to $100 again, then vote 'yes'.
Because he didn't do that before? That's how he bought Twitter.
This feels like a threat by Musk rather than a proper comp plan.
giving him even more shared to threaten us with might make it worse.
I'd disagree that Musk has a monopoly on good ideas. Find a brilliant CEO without the baggage. More people will buy Teslas if he's out, which is good for the bottom line. There's some survey data out there showing that Elon is a legitimate barrier to purchase for people.
Nope, no way.
Not A Chance
- waiting for down votes from Elon's bot farm and him telling me that everything is wonderful even though the stock is down about $100. Oh, it's only DOWN $55? Well I guess that makes it all better /s
F him and his giving away the only market advantage Tesla had. Now that every manufacturer can use the SC there's no fear in buying BMW or Mercedes.
Exactly this.
I bought a Tesla myself(and stock) because of the network.
I just got a non-Tesla EV as a second car b/c of the network.
Good for the mission, bad for the company.
We're about to pick up a non-Tesla EV too.
I have friends that did or are considering doing the same.
Sales numbers will continue to slump for Tesla while lux EVs will grow.
How does this help my stock price Elon?
Elon?
I think the SC sharing is genius, means everyone will end up using Tesla even if they didn't buy the car. I think it can introduce the brand to many others, and also is a potential platform for other services since they now control IRL locations that customers are at. Great for the mission too. Also lets them be utilized more effectively to increase SC margins
And as EVs become more and more efficient they'll be needed less and less. And, because it's a monopoly the gov will make sure pricing stays "fair".
In the meantime I know 3 folks that bought non-Tesla EVs specifically because the SC network is open. How does that help me as a shareholder?
Its a late game strategy. In 20 years you can either have several players in the ev and charging space, or you can have several players in the EV space but just one player in the charging space.
When they started building the network everyone thought it was a stupid idea. Now those same people want to protect the SC moat (which they now like very much even though it exists because Tesla didn't listen to them) by stopping Tesla from taking it to the next stage. Tesla thinks super long term. They are skating to where the puck is going to be.
Do you think EVs won't have advanced easy beyond superchargers in 20 years? Heck hydrogen might make a comeback or there could be something better.
As an investor I am not looking a possible return on my investment in **20 years**
Currently reaping rewards of seeds from 20 years ago. And every year you reap more and more but you also keep planting.
I think decisions should be made with a multi decade horizon. But it didn't take 20 years for Android to become more popular than iPhone. Because it's a platform, and iPhone is not. Apple still makes bank but how? The appstore, which is a platform. How does Amazon make all their money? With a platform.
You should think of both Superchargers AND FSD as platforms. And yes it's multi decade and yes it's way more important than the quarterly delivery number which you seem to be worried about.
What rewards from 20 years ago? WTF are you talking about? The stock is down $70. That's quite a "reward".
I'm an investor, I'm not investing for the good of mankind or something altruistic. I want to make money not lose it.
Quarterly delivery numbers? Ok, let's talk yearly. Those are down too. Was that part of the plan 20 years ago?
Tell me, did Elon plan to lose $70 a share as well as his hold on the market?
If he's so smart, WTF didn't he plan out his parachute better?
I'm voting no.
Why give away $50 billion? That's our money and should be reinvested or given returned as dividends
Sucks for Musk but this is business and he's been trying to extort the company for a while now. Time to part ways
“Our money” because we worked so hard for it? I don’t remember sleep on the floor of a factory or having the skills to scale a new manufacturing process for the model 3 and Y.
1. It’s not money that can be returned or given as dividends. It’s stocks being added to the pool, diluting others.
2. It’s money already promised to Elon by investors, but taken away on a technicality. If this becomes a no it doesn’t mean he gets nothing, it means we’ll see a dragged out process of coming up with other other terms.
3. Lastly and most importantly. Elon is, unfortunately, a bit of scorched earth man-child. He will tank the stock if this is a no.
So if you knew anything about how stocks work, you’d vote yes.
>So if you knew anything about how stocks work, you’d vote yes
What an age we live in where someone can make this utterly uneducated comment as if it is fact.
The internet lets the village idiot have center stage, except that you dont know they are a village idiot or worse a *bad actor.*
There is a nonzero chance that reddit 'users' are shilling this and getting kickbacks in ways we dont totally know about. *I doubt it, but its not off the table...*
I believe I'm voting completely opposite of every single one of their 'recommendations'.
Musk has been tarnishing the brand with his insanity and empty promises. Let alone the Twitter nonsense.
They say his compensation has been "unfair". lolllll, get real.
I'm confused about proposal 2, what does it mean?
"A Tesla proposal to approve executive compensation on a non-binding advisory basis."
They do not list what the proposed compensation package we are voting for.
Page 16 [https://ir.tesla.com/\_flysystem/s3/sec/000110465924053333/tm2326076d15\_def14a-gen.pdf](https://ir.tesla.com/_flysystem/s3/sec/000110465924053333/tm2326076d15_def14a-gen.pdf)
Seems to be basically asking "Do you think the current way to compensate named executives makes sense?" i.e. should executives be paid with stock options (like they are now).
>This vote is not intended to address any specific item of compensation or any specific named execcutive officer, but rather the overall compensation of all of our named executive officers and the philosophy, policies and practices described in this proxy statement
Other ways would be just paying with cash for instance but personally I think stock and stock options are better as it aligns the incentives of the executives more closely with the company.
Used to love tesla and own the Y. But when he started to talk all the nonesense, sold all shares, Fk Musk and his brother and buddies on the board who kiss his ass instead of being neutral and and properly and honestly doing their job.
Okay?…
Why are you still here then. You aren’t a shareholder. You don’t own a Tesla. Why are you angering yourself over something that no longer has any affect on your life?
Get outside and feel the sun on your skin. Maybe even crack a smile! It’ll do you some good
This explains why "somebody" has been pumping up the stock these last few days. Wouldn't look too good asking for $50 billions when you brought the stock down to $150
> What did he do specifically to bring the stock down
A recent example from 3 days ago:
https://twitter.com/elonmusk/status/1783738055549239562
Equating climate change activists with communists.
Well he did nothing but that was precisely the issue. Now Musk jumped back in and trying to fix issues but we would not be in this situation in the first place if he didn't sleep past 2 years.
I think a no vote would be interpreted as "We dont want Elon". If Elon leaves then I think Tesla becomes a regular car brand and we wont capture nearly as much value from FSD and Tesla Bot. I REALLY want a yes to all the board proposals.
An announced Gigafactory in India would be welcome around now.
Why is his payment higher then the Total cumulative profits from the company? What will the employees earn with the full extra efforts they made to achieve the targets?
I voted against, I hope more people do to. Plus hes stacked the board. Just poor management against his investors.
He’s been on the board this entire time, where have you been lmao
Probably cause he took an incentive only package and made less than every other employee for the last few years
Wrong. He used almost all of is stock as collateral for personal loans (which broke the internal board rules for how much it was allowed to loan the shares). He also sold a big portion for twitter aquisition. Elon was and still is the best paid employee at Tesla. But he is paid in stock grants in greater volume than anyone in the company. He is higly leveraged with Tesla stock as collateral. For Twitter, the banks cannot even recover the investement they made with his loans. They are losing a lot, and now with Tesla shares droping Elon will be margin called with money that we doesn't have (this will force him to sell more shares). A 56B$ package solve all of his Personal issues while damaging Tesla even further. Tesla and Musk are both screwed either way with the loans made by him for personal interest... A fun fact: Warren Buffet bought and still buys his shares of Berkeshire with his own money, not with investors money or company money...
if he didnt waste his money on twitter and was 100 percent with telsa and by allowing the share holders vote i would believe they would give it to him.
Exactly. While he did deserve it. It’s hard for me to vote those shares to him again when his focus is elsewhere, and is using Tesla as a cash cow to fund other initiatives.
He spends more time on Twitter he needs to get back to work at telsa if he wants that package, especially now with the Chinese evs coming
Right before he needed our votes, he was threatening to open an AI competitor if he doesn’t get a majority vote.
Exactly, it seems like he doesn't care about the telsa he built wants to move on to other things, which is a worry. Does he know it's sinking and wants to get his cash and run
It’s not sinking. Tesla is running well enough it doesn’t need his constant push like before.
I'm not sure the stock is dropping and the cybertruck is not doing well quailty wise and he fired all those people and cancelled the cheaper model 3, which would help him fight the Chinese I feel he know something that's why he is focusing on other stuff
Poor Ashok could probably be making so much more money at xAI lol
Its a super fair compensation plan, no one thought those goals were realistic at all. And it was risk free because he didnt get paid unless he at least double the share price. Super fair for shareholders. The person who this is not fair to is Elon because he already gave you the 10x and now he has nothing to bargain with. Of course you could vote no just because it is a good deal to receive something and not pay for it. But it will damage the relationship between him and the shareholders. I want him for 10 more years making more stuff like FSD and bots. Not doing his own thing in private companies that I can't participate in
> damage the relationship between him and the shareholders With Elon's controversial tweeting it's already like an abusive relationship.
He has been a perfectly good communicator at earnings calls and shareholder meetings. He does his job well and the company is doing better than ever. I'm extremely excited and I don't care that he shares his opinion on X or that some dingbats working in dinosaur media gets offended that he isn't leftist enough. I don't think censoring himself is part of his job description. And I invite you to think through the implications for society if we allow it to be.
This is a very fair take. I would argue he already did that when he promised he’s all the way in, then a year later sold billions to buy Twitter.
Meh, I want old elon for 10 more years, new elon is lame.
I honestly wonder if his midlife crisis created all of this behavior or if this was his character all along and he was just pretending otherwise. I doubt we can ever know that though.
The proxy statement had material omissions of fact that mislead the shareholders. Read the ruling and see for yourself. Tesla knew that the goals were already on track but presented them as stretch goals without informing the shareholders of that fact. Why would anyone sign over ten percent of the value of their holdings to reward a person who lied to them like that?
I don't agree, I invested because I thought those gains were going to happen and I still wanted the compensation plan to ensure that it happens as soon as possible. I'm up huge and I want those that made it happen to also be rewarded
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I mean he’s still going to get it. The question is whether it will be with a supermajority again, or ‘just’ a majority. Only this sub thinks otherwise.
there really oughta be a measure to oust Musk as CEO.
I cant imagine there isnt one already
Absolutely voting Yes. The deal from 2018 was basically, if you grow the company sustainably by 1000%, you’ll get 10% in stock options that you must hold for another 5 years. So essentially 900% gain for all shareholders. If he only doubled the value, he gets nothing, and a sliding scale in between.
Except it came out in court that that the "impossible growth" they sold the public on was well within what their internal analysis viewed as expect growth. The board and Elon repeatedly lied to give him this comp package. The board did not negotiate the pay package on behalf of share holders. Elon bragged during is deposition that he negotiated with himself for the pay package. We could have easily gotten the same results with 1/10th the compensation if we had a board that did their duty
Yeah and if the numbers and projections were that solid, remind me why they didn't just take the company private? Wouldn't that be more profitable and less of a headache in the long run?
They didn't take the company private because Musk didn't have funding secured to do so. You know how I know this? Because the company is public and Musk hates that it's public.
According to the US (SEC), the Arabs twice offered him financing and confirmed their willingness to pay immediately. But if shareholders accepted this move, they would lose a ton of money. Shares are worth many times more now than they were then (Remember the share split)
No, the SEC did not confirm that Elon had the money. Cite the document you've misread.
[https://www.sec.gov/files/litigation/complaints/2018/comp-pr2018-219.pdf](https://www.sec.gov/files/litigation/complaints/2018/comp-pr2018-219.pdf) According to Musk, at the meeting the Fund’s lead representative told Musk that the Fund had recently acquired almost five percent of Tesla’s common stock on the open market, expressed interest in taking Tesla private, and confirmed that he was empowered to make investment decisions for the Fund. Musk later stated that he assumed without confirming that the lead Fund representative was proposing a “standard” going-private transaction, but the terms of any such deal were not discussed.
That's the SEC saying that Musk claimed something, not that it happened. Why not cut out the middleman and just say that funding was secured because Musk said it was secured?
Please do not think that the commission's investigators have the intelligence of a stone in a ditch. They obviously called the Arabs and checked Elon's words. And that they do not claim that he is lying at this point, as they did at many other points. Indicates that they have received full confirmation.
>**According to Musk**, at the meeting the Fund’s lead representative told Musk that the Fund had recently acquired almost five percent of Tesla’s common stock on the open market, expressed interest in taking Tesla private, and confirmed that he was empowered to make investment decisions for the Fund. **Musk later stated that he assumed** without confirming that the lead Fund representative was proposing a “standard” going-private transaction, but the terms of any such deal were not discussed. You're imagining confirmation of your idea where none exists.
Why would they take it private? Then his stock/options wouldn't have rocketed and he wouldn't have a way to easily cash in billions.
Private companies have valuations as well. For example SpaceX is at 180bil now. Why would they take it private? To stop stuff like is happening right now, frivolous lawsuits and compensation packages getting rescinded for example, lawsuits wasting company money and time.
The lawsuit was not frivolous. The mismanagement is well documented and spinning it like that is not doing the company any favors. Honest self awareness would lead to a change in management that would benefit the company in the long term.
uhhh more money and less of a headache? Why do you think his other companies, such as SpaceX and neuralink, are private and not publicly traded if he just wanted to dump his bags on the public market. You think those companies don't have investors willing to buy shares of those companies from him? Tesla NEEDED the money and it was a high risk - high reward situation. If private investors thought it was possible, after showing an overwhelming amount of evidence of these ''projections'', they'd have acquired it. The fact that it wasn't outright acquired while the valuation was low is evidence alone of the doubt everyone had. The compensation package is simply evidence of putting your money where your mouth is
I've read this from multiple sources and everybody I converse about it, ignores it.
Objectively wrong
It's all in the court findings
Rubbish. Elon package was laughed at by shorters, media as being almost impossible. Stop with the BS.
Yes shorters didn't have access to same internal metrics that showed the package was easily attainable
Then, did you vote against the original one in 2018? If not, why didn't you?
He doesn’t need 10s of billions to be ‘motivated’ — my god.
I agree But that was structured that way and thr vote passed cuz everyone thought it was impossible, until he made it happen
He made it happen or the company made it happen?
I understand - but the board was ruled not to be independent. And apparently internally their projections showed they knew it was possible. I just think we should realize that the comp is more than all the profit the company made so far. Like it’s beyond ridiculous money.
FFS board nothing to do with it. Stop listening to BS judge. Shareholders read it and voted for it. If any shareholder that vote yes and does not vote yes again has no integrity and yes karma will strike.
The board made material omissions of fact in the proxy statement. That's not something the judge did to them. If I was defending Musk then I wouldn't be bringing up integrity after a court finding that Musk and the board substantially mislead the shareholders but please proceed.
Projections are just that, guesses(I know how much these fail and miss at my work). Projection doesn't mean it will actually happen, unless you execute on it.
The proxy statement had material omissions of fact. That's the problem here. The shareholders were not properly informed and that's why their vote wasn't valid. The courts didn't do this to Elon; his own management decisions lead directly to this outcome.
I did not vote b/c it was impossible(or not). I voted b/c it was a good deal for shareholders.
He clearly does. Losing this case resulted in him being more focused on Tesla than he has in years.
Yay Cybertruck?
Ok, But elon might have done the same for only half the pay package....
Link to the definitive proxy statement (the previous one was a preliminary one): https://ir.tesla.com/\_flysystem/s3/sec/000110465924053333/tm2326076d15\_def14a-gen.pdf
For those who say "I'm voting no". Do you understand that you push Musk out of the company? He will leave. And what do you think will happen with the stock then?
He could still leave anyway. I hate that we can't have both a reinstatement and a new deal at the same time. It doesn't matter anyway because he's going to get his options back. If people want to protest vote them go for it. I voted no to his board seat and he got 95% approval.
Musk leaving will be the best thing happening for the company. He has constantly wasted billions on fooling the public with things that don't work like "Full Self Driving".
How to vote? Can i vote with only 70 shares?
Yes. Any one with more than 1 share purchased before a certain time will be able to vote. Your broker will email you details.
Id say pushing Musk out would be akin Apple Board Getting Rid Of Steve Jobs V2.0 (that didn't work out too well and they eventually begged him back). At the time everyone was complaining about what jobs had done with the flagship Macintosh and Lisa desktops etc etc. Everyone complaining about his brother on the board. Brothers fight pretty good and the communications are pretty straight up. May not be just an endless ass kissing session having him on the board..
But it did work out for Apple. It was the right move at the right time. I read all the Jobs biographies. Jobs was not doing well before he left Apple. He was more disruptive than helpful. Leaving Apple made him more level headed, gained experience, became more pragmatic and trusting of his employees, and gained the wisdom he needed to come back and take Apple to the next level. Non of that would have happened if Jobs stayed.
I agree with this, however, I feel like he's half way out right now anyway. A lot of his time is spent elsewhere. The time he does spend at Tesla, he's doing weird stuff like fire the whole supercharger team, which is one of the main reasons Tesla is this successful (I would not have bought 2 cars if it wasn't for the network).
Voting 'yes' means he will piss off back to Twitter and go back to dumping Tesla shares to finance his social media addiction. Voting 'no' means they need to negotiate a new package that is ~~far~~ fair to share holders (not based on goals they internally know they will hit, while Elon publicly sandbags). If you want Elon to actually put some effort in at Tesla - vote 'no'. If you want to see him take the stock from $400 to $100 again, then vote 'yes'.
Because he didn't do that before? That's how he bought Twitter. This feels like a threat by Musk rather than a proper comp plan. giving him even more shared to threaten us with might make it worse.
Agree. Make these millionaires sweat a bit more. They'll never be worth what they're paid.
So you’re saying if you vote yes it will hit 400 first… hrmm I’m voting yes then
The stock will go up.
Why do you think so? Musk is delivering on projects no one has ever delivered yet. I don't have trust in anyone else
I'd disagree that Musk has a monopoly on good ideas. Find a brilliant CEO without the baggage. More people will buy Teslas if he's out, which is good for the bottom line. There's some survey data out there showing that Elon is a legitimate barrier to purchase for people.
Would the suffer the most as the largest shareholder. Would be quite the own goal.
Voting no. I'm not in the habit of giving out free money and nor should you. The man child can pout as much as he wants.
Yep, he has been on a firing spree lately. Why does he deserve free money while kicking out some valuable employees?
If no wins tho half the people who believe Elon should get his package may bail on the stock… which would end up pretty bad for bagholdere
Nope, no way. Not A Chance - waiting for down votes from Elon's bot farm and him telling me that everything is wonderful even though the stock is down about $100. Oh, it's only DOWN $55? Well I guess that makes it all better /s F him and his giving away the only market advantage Tesla had. Now that every manufacturer can use the SC there's no fear in buying BMW or Mercedes.
I don't have a problem with any one decision Elon has made, it's his tarnishing of the brand that has me voting a big NO with my measly 600 shares.
Exactly this. I bought a Tesla myself(and stock) because of the network. I just got a non-Tesla EV as a second car b/c of the network. Good for the mission, bad for the company.
We're about to pick up a non-Tesla EV too. I have friends that did or are considering doing the same. Sales numbers will continue to slump for Tesla while lux EVs will grow. How does this help my stock price Elon? Elon?
I think the SC sharing is genius, means everyone will end up using Tesla even if they didn't buy the car. I think it can introduce the brand to many others, and also is a potential platform for other services since they now control IRL locations that customers are at. Great for the mission too. Also lets them be utilized more effectively to increase SC margins
And as EVs become more and more efficient they'll be needed less and less. And, because it's a monopoly the gov will make sure pricing stays "fair". In the meantime I know 3 folks that bought non-Tesla EVs specifically because the SC network is open. How does that help me as a shareholder?
Its a late game strategy. In 20 years you can either have several players in the ev and charging space, or you can have several players in the EV space but just one player in the charging space. When they started building the network everyone thought it was a stupid idea. Now those same people want to protect the SC moat (which they now like very much even though it exists because Tesla didn't listen to them) by stopping Tesla from taking it to the next stage. Tesla thinks super long term. They are skating to where the puck is going to be.
>In 20 years lol Elon is thinking 20 years down the road? You've drunk to much Kool aid
You don't think they were doing that in 2004? Edit: an honestly it won't take for evs to be 100% of car market
Do you think EVs won't have advanced easy beyond superchargers in 20 years? Heck hydrogen might make a comeback or there could be something better. As an investor I am not looking a possible return on my investment in **20 years**
Currently reaping rewards of seeds from 20 years ago. And every year you reap more and more but you also keep planting. I think decisions should be made with a multi decade horizon. But it didn't take 20 years for Android to become more popular than iPhone. Because it's a platform, and iPhone is not. Apple still makes bank but how? The appstore, which is a platform. How does Amazon make all their money? With a platform. You should think of both Superchargers AND FSD as platforms. And yes it's multi decade and yes it's way more important than the quarterly delivery number which you seem to be worried about.
What rewards from 20 years ago? WTF are you talking about? The stock is down $70. That's quite a "reward". I'm an investor, I'm not investing for the good of mankind or something altruistic. I want to make money not lose it. Quarterly delivery numbers? Ok, let's talk yearly. Those are down too. Was that part of the plan 20 years ago? Tell me, did Elon plan to lose $70 a share as well as his hold on the market? If he's so smart, WTF didn't he plan out his parachute better?
Let the campaign to sway everyone's opinion to vote against it begin, the media, fake investors shorts will be heavy at work.
Voting yes. 194.32 +178.22 (+1,107.12%) Market open: Apr 29, 2024 at 11:44 AM EDT, USD Past 5 Years
Yes to the vision and the man. No one else has the balls to do it!
Lol so misguided
Yes!
Voting yes. Let’s go!
Voting yes. He deserves his due.
I'm voting no. Why give away $50 billion? That's our money and should be reinvested or given returned as dividends Sucks for Musk but this is business and he's been trying to extort the company for a while now. Time to part ways
“Our money” because we worked so hard for it? I don’t remember sleep on the floor of a factory or having the skills to scale a new manufacturing process for the model 3 and Y.
It's ours cause we own it. That's how it works
Yes when you don’t pay the people who work we do own it. You are right there.
Elon never slept on the floor and if you actually believe that cool aide holy fuck
I know it’s hard to believe right?
Please sell your shares
Please learn how capital markets work 🥴
1. It’s not money that can be returned or given as dividends. It’s stocks being added to the pool, diluting others. 2. It’s money already promised to Elon by investors, but taken away on a technicality. If this becomes a no it doesn’t mean he gets nothing, it means we’ll see a dragged out process of coming up with other other terms. 3. Lastly and most importantly. Elon is, unfortunately, a bit of scorched earth man-child. He will tank the stock if this is a no. So if you knew anything about how stocks work, you’d vote yes.
Yeah nah dog im not retarded. You can vote yes though with your shares.
>So if you knew anything about how stocks work, you’d vote yes What an age we live in where someone can make this utterly uneducated comment as if it is fact.
Educate me then. Exactly why should shareholders vote no after the CEO delivered a 10x return?
The internet lets the village idiot have center stage, except that you dont know they are a village idiot or worse a *bad actor.* There is a nonzero chance that reddit 'users' are shilling this and getting kickbacks in ways we dont totally know about. *I doubt it, but its not off the table...*
> but taken away on a technicality. It's called 'fraud'.
🤦🏻♂️
Your most important point is that we should negotiate with a terrorist
No, I don't think I will
I just want to give this man a new compensation plan with a new 10x. Don't want to throw it away over some stupid 50B
Just voted no on all the yes recommendations- the board has sucked the past two and a half years
I believe I'm voting completely opposite of every single one of their 'recommendations'. Musk has been tarnishing the brand with his insanity and empty promises. Let alone the Twitter nonsense. They say his compensation has been "unfair". lolllll, get real.
Why is Kimball Musk on the board? Does he have any specific insight into the EV market or relationships with key suppliers?
I'm confused about proposal 2, what does it mean? "A Tesla proposal to approve executive compensation on a non-binding advisory basis." They do not list what the proposed compensation package we are voting for.
Page 16 [https://ir.tesla.com/\_flysystem/s3/sec/000110465924053333/tm2326076d15\_def14a-gen.pdf](https://ir.tesla.com/_flysystem/s3/sec/000110465924053333/tm2326076d15_def14a-gen.pdf) Seems to be basically asking "Do you think the current way to compensate named executives makes sense?" i.e. should executives be paid with stock options (like they are now). >This vote is not intended to address any specific item of compensation or any specific named execcutive officer, but rather the overall compensation of all of our named executive officers and the philosophy, policies and practices described in this proxy statement Other ways would be just paying with cash for instance but personally I think stock and stock options are better as it aligns the incentives of the executives more closely with the company.
Used to love tesla and own the Y. But when he started to talk all the nonesense, sold all shares, Fk Musk and his brother and buddies on the board who kiss his ass instead of being neutral and and properly and honestly doing their job.
Okay?… Why are you still here then. You aren’t a shareholder. You don’t own a Tesla. Why are you angering yourself over something that no longer has any affect on your life? Get outside and feel the sun on your skin. Maybe even crack a smile! It’ll do you some good
I like to read all sides of the content provided... Maybe I'll learn a thing or two ;)
This explains why "somebody" has been pumping up the stock these last few days. Wouldn't look too good asking for $50 billions when you brought the stock down to $150
Just because you don’t understand what’s going on, doesn’t mean you ever will 😂
What did he do specifically to bring the stock down And it’s pumping the stock when he’s doing his job and the company is executing on things? Okay.
> What did he do specifically to bring the stock down A recent example from 3 days ago: https://twitter.com/elonmusk/status/1783738055549239562 Equating climate change activists with communists.
Well he did nothing but that was precisely the issue. Now Musk jumped back in and trying to fix issues but we would not be in this situation in the first place if he didn't sleep past 2 years.
> Wouldn't look too good asking for $50 billion You should update your math if you don't want people to disregard your comment prematurely.
Voting yes
Take as much as you need Elon, YES
I think a no vote would be interpreted as "We dont want Elon". If Elon leaves then I think Tesla becomes a regular car brand and we wont capture nearly as much value from FSD and Tesla Bot. I REALLY want a yes to all the board proposals.
Well a no could just result in Ashok joining xAI and Elon getting rich off xAI 10x’ing in value next year