Another Proxy Firm Advises Against Voting For Tesla CEO Musk's 'Excessive' Pay — But Backs Texas Move
Portfolio Pulse from Anan Ashraf
Institutional Shareholder Services (ISS) has advised Tesla shareholders to vote against CEO Elon Musk's $56 billion pay package, calling it 'excessive.' ISS also recommended a vote against Tesla director James Murdoch but supported director Kimbal Musk and the company's proposed move to incorporate in Texas. This follows a similar recommendation by Glass Lewis last week.
May 31, 2024 | 6:22 am
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ISS has advised Tesla shareholders to vote against Elon Musk's $56 billion pay package, calling it 'excessive.' This follows a similar recommendation by Glass Lewis. ISS also supports Tesla's move to incorporate in Texas.
The recommendation by ISS to vote against Musk's pay package could negatively impact investor sentiment and Tesla's stock price in the short term. The support for the move to Texas may not offset the negative sentiment from the pay package issue.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100