- 📈 Over 5.8k Tesla investors, representing $4.1 billion, have joined forces to express support for Elon Musk’s 2018 compensation plan.
- 🗳️ The investors aim to reaffirm their backing for Musk’s 2018 compensation plan, with targets already met, and request a new plan that could grant him 25% of Tesla’s voting shares.
- 🏢 There is a call for Tesla to move its state of incorporation from Delaware to Texas, aligning with the company’s current headquarters.
- 📜 The shareholders emphasize the importance of maintaining the 2018 CEO Compensation Plan and express concerns about disenfranchisement following a legal challenge.
- 🌐 The new compensation plan proposed by investors includes ambitious performance and market cap milestones, such as reaching level 5 autonomy for Full Self-Driving (FSD) and specific market valuation goals.
- 🤝 The collective effort involved a diverse group of Tesla shareholders, ranging from those with a single share to those holding thousands, showcasing a united front across the investor spectrum.
In a remarkable display of unity, over 5.8k Tesla investors, wielding a collective financial influence of $4.1 billion, have united to express unwavering support for CEO Elon Musk’s 2018 compensation plan. This unexpected surge of solidarity comes in response to a recent legal setback that saw the 2018 plan rescinded by a Delaware judge.
The Call to Action
The rallying cry from Tesla investors is clear – reaffirm support for Elon Musk’s 2018 compensation plan, whose targets have already been achieved. Moreover, the shareholders aim to instigate the creation of a new compensation plan that would grant Musk a substantial 25% ownership of Tesla’s voting shares. This collective appeal stems from a conviction that Musk’s leadership and vision are integral to the company’s success.
Geographical Shift: Texas on the Horizon
Beyond matters of compensation, there is a resounding call for Tesla to change its state of incorporation from Delaware to Texas. Aligning the company’s legal home with its operational headquarters is seen as a strategic move that could further consolidate Tesla’s presence in the Lone Star State.
The 2018 CEO Compensation Plan: A Point of Contention
At the heart of this movement is a firm commitment to preserving the 2018 CEO Compensation Plan. Shareholders express concerns about disenfranchisement following the judge’s decision to rescind the plan, viewing it as a potentially dangerous precedent for shareholders in American corporations.
Crafting a New Vision: Ambitious Milestones
The proposed new compensation plan outlined by the investors goes beyond a mere financial arrangement. It envisions ambitious performance and market cap milestones, including achieving level 5 autonomy for Full Self-Driving (FSD), meeting annual kWh goals for Tesla Energy, and reaching production milestones for the next-generation EV platform, named Optimus.
- Performance Milestones:
- Full Self-Driving (FSD) reaching level 5 autonomy.
- Tesla Energy achieving annual kWh goals.
- The next-generation EV platform reaching volume production.
- Optimus in volume production.
- Market Capitalization Milestones:
- Each $500 billion- or $1 trillion-dollar increase in Tesla’s overall value.
- Surpassing the combined value of Saudi Aramco and Apple.
These milestones, if achieved, would contribute to Musk receiving 25% or more of Tesla’s voting shares.
Strength in Diversity: A United Front
What sets this movement apart is the diversity within its ranks. The 5,821 Tesla shareholders supporting this cause represent a broad spectrum, ranging from those with a single share to investors holding thousands. The collective effort highlights a shared belief in Elon Musk’s leadership and Tesla’s potential, bridging gaps across the investor spectrum.