Tesla Inc. wants its many retail investors to support Elon Musk’s $56 billion pay plan. To do this, Tesla’s board has hired a strategic adviser. They are also working with an outside law firm to help with the plan.
The adviser created a special website called Vote Tesla. This website is for retail investors, regular people who own 42% of Tesla shares. The website encourages them to vote online, by QR code, by phone, or by mail. There’s also a video with Tesla’s board Chair Robyn Denholm. She says it’s very important to support Elon Musk’s pay plan because it’s good for Tesla’s future.
Tesla will hold its annual meeting on June 13. At the meeting, investors will decide if they approve of the pay plan. A judge in Delaware previously stopped the plan. But Denholm says one judge’s decision shouldn’t outweigh the votes of millions of Tesla owners.
Even though the vote is just advice, it could affect Elon Musk’s future at Tesla. If most investors support the plan, it will show that the Delaware court was wrong. But if they don’t, it will be a big loss.
Musk has said he might work on other projects if he doesn’t get at least 25% of Tesla. This was part of the pay plan the judge stopped. If the plan goes through, Musk could own about 21% of Tesla. But if investors don’t approve it, Musk’s future ownership becomes uncertain.
Many Tesla fans on social media are supporting Musk. They are using the hashtag #VotedTesla24. Some investors have already voted. Musk is also urging shareholders to vote. He’s sharing messages from supporters like Alexandra Merz, who calls herself a “Fangirl of Elon.”
Merz is helping Tesla shareholders reach out to large funds and ask them to vote. But not all retail investors can vote, especially those outside the U.S.
But even with support from fans, the board still has work to do. Usually, only a few retail investors vote at Tesla’s annual meetings.
One big investor, Leo KoGuan, says he won’t support the pay plan. He’s also critical of how Musk is running Tesla.
Tesla’s financial performance hasn’t been great recently. Sales are down, and many executives have left. But Tesla is still very valuable.
Now, Tesla’s board is working hard to win support for Musk’s pay plan. They’re also talking to big investors. These investors own a lot of Tesla shares. Proxy advisory firms will also make recommendations. These recommendations could influence how investors vote.
Musk has done a lot for Tesla. He’s seen as the reason why Tesla has been so successful. Many shareholders believe in him and want him to stay at Tesla. They hope others will vote for his pay plan too.
