Proxy advisory firm Institutional Shareholder Services has advised Tesla TSLA 2.46%increase; green up pointing triangle investors to vote against a new $1 trillion pay package for Chief Executive Elon Musk and against Tesla making a potential investment in xAI, his AI venture.
In a report Friday, the proxy firm wrote that it has concerns about the magnitude and design of the “astronomical” stock award, even though Musk only gets the payouts if he creates enormous value for Tesla shareholders.
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