Shareholders, would you vote to reinstate Elon's pay package

[Pops]

The vote just came into my email today. I voted against the pay package for the following reasons:

• The previously agreed to package was grossly too large in relation to value gained
• There was no push back or negotiation from the board to preserve shareholder value
• Elon will not leave if it doesn't pass, and if he did I feel Tesla would be in a better position for its next phase.
• Tesla would be better off using this share dilution to gain capital, rather than enriching a single person.

If they come back with a more reasonable compensation plan, I would vote yes.

 

[Crissa]

I'm confused.

Who has more insight into the state of the Supercharging team, you or Elon?

Not Elon, apparently. He's single-handedly holding back the progress he's made. If I could divest, I would. Such a move is crippling. For the larger EV adoption and for the company's health. He's sitting on cash at a time when cash is shrinking due to economic growth and health inflation.

This is getting tiring, you continue to make false claims...

Any shareholder not voting in favor of this resolution would have to be someone who doesn't believe in following through on clear promises,

Dude, no.

I didn't make any false claims and you have identified zero. And now you're making a strawman argument: At no point did I say a majority of shares not held by him is required.

And no, promises made under false pretenses are not to be kept. Major red flag in a business partner who believes such things.

-Crissa

 

[BannedByTMC]

You have an unnatural hatred for Elon Musk and this is causing you to jump to incorrect conclusions.

You need to knock it off and stop being so adamant about things you know nothing about!

The irony is palpable. Just because you think any criticism of Elon is "hatred" doesn't make it so.

 

[HaulingAss]

The irony is palpable. Just because you think any criticism of Elon is "hatred" doesn't make it so.

It's not any criticism that I think is hatred, but I've been watching you for a long time and you are persistently negative on decisions Elon makes, even when those decisions later turn out to be exactly what was needed.

You seem to think you could run Tesla better than Elon himself! That's just so fanciful. I don't know what to say!

 

[BannedByTMC]

It's not any criticism that I think is hatred, but I've been watching you for a long time and you are persistently negative on decisions Elon makes, even when those decisions later turn out to be exactly what was needed.

You've already proven you assume negativity from me where there is none, so that's on you. You also ignore the fact that Elon has in fact made bad decisions.

You seem to think you could run Tesla better than Elon himself! That's just so fanciful. I don't know what to say!

In recent years I think most people could.

Things I wouldn't have done:

Sell massive amounts of shares to buy a social media company.
Promote views that are damaging to the company and the mission.
Ignore the company for so long that when I suddenly started paying attention again I had to do massive firings out of desperation.
Put my support behind groups that don't believe in our product and actively work against our mission.
Threaten to compete against the company if I didn't get even more shares, especially when I voluntarily sold a large amount of shares to buy an unrelated company.
etc. etc.

 

[Sjohnson20]

What does a person do with 55 billion dollars? I guess it's just bragging rights at that point? I'll take 1 billion and I'm good lol

 

[Alpine]

What does a person do with 55 billion dollars? I guess it's just bragging rights at that point? I'll take 1 billion and I'm good lol

Billionaires have ambitions in the trillions. To them it's not about living subsistence.

 

[Crissa]

Mailers went out for the vote today.

Good thing he just torpedoed the Supercharger team before the vote!

Wait, no.

To oust his payment package, 71% of the other shareholders need to vote against him.

-Crissa

 

[Vegetaban]

This shareholder vote, if passed, would not overturn a court order. It would merely confirm that shareholders weren't dangling a carrot in front of Elon to get him to work his fingers to the bone towards making Tesla successful, only to yank that carrot away once he succeeded.

The odd thing here is that different shareholders will be voting on this vs. the shareholders who originally approved it. It's one of the screwiest court rulings I've seen in the corporate world. How would you like it if a billionaire told you they would give you $10 million dollars if you cut off one pinky finger or toe every year for four years in a row, you agreed, performed on schedule, and then a judge ruled the offer was unfair, that $10 million dollars is too much for loss of two toes and two pinky fingers? And then remanded the billionaire to come up with more appropriate compensation.

This doesn't happen to other companies, it's just another attack to try to slow Tesla down by creating turmoil within the company and seed doubts in investors and potential new car buyers.

Shareholders knew EXACTLY what they were voting for and said "if Elon can make that happen, he's worth every share". The only reason the compensation had such a high dollar value was because Elon made the right decisions to turn a struggling EV maker into the automaker with the highest profit margins of any high volume manufacturer.

The ironic thing is, shareholders are not even required to vote on CEO compensation plans, the only reason the BoD had a shareholder vote was because the compensation plan had such outrageous goals, few thought they could be met, some even said Elon will end up getting paid zero!



Of course it will work. Once shareholders approve the move, Tesla will no longer be subject to corrupt Delaware courts, going forward.



The vote will pass with a much smaller margin than the overwhelming majority it was originally approved with because some shareholders are greedy, especially those who missed out on the latest 15X increase in TSLA valuation, and if they think they can pay a man less than originally promised, for work already completed successfully, well, some people will vote to do exactly that. But it's distasteful in the extreme. For some people money is more important than honesty and keeping your promises.



That's the same dumb sort of thinking that led to this disgraceful judge's ruling in the first place.

A pay package doesn't define a person's worth, it's simply an agreement between the two parties. In this case, shareholders and the Board of Directors agreed that if Elon could successfully carry out the outrageous goals laid out, that he would own a larger percentage of the company. Because everyone would be a winner. Now some woke judge has decided that he created too much value and shareholders didn't understand that Elon Musk's brother might be biased. Where was the complaining shareholder and the woke judge when the pay package was originally approved over 6 years ago? It would have looked ridiculous to complain about his compensation package in 2018 because the talking heads on CNBC were saying there is no way Elon could reach his most audacious goals, let alone the initial ones. People said he was going to end up working for free!

Yes, I will be voting to approve his pay package, not only because I believe Elon deserves it, but also because I am a man of my word. I don't dangle a carrot in front of someone and then jerk it away after I get them to do what I wanted.

Voted yes too for same reasons.

 

[Smokehouse Brown]

You've already proven you assume negativity from me where there is none, so that's on you. You also ignore the fact that Elon has in fact made bad decisions.



In recent years I think most people could.

Things I wouldn't have done:

Sell massive amounts of shares to buy a social media company.
Promote views that are damaging to the company and the mission.
Ignore the company for so long that when I suddenly started paying attention again I had to do massive firings out of desperation.
Put my support behind groups that don't believe in our product and actively work against our mission.
Threaten to compete against the company if I didn't get even more shares, especially when I voluntarily sold a large amount of shares to buy an unrelated company.
etc. etc.

 

[Kahpernicus]

?

 

[Cyber07]

No.

Or

Yes, pay him but fire him and the whole board immediately and appoint Tom Zhu as the new CEO. He made Tesla scale and not Elon.

Elon currently destructive for everything what the management team has built he just fired. He truly has to go. He doesn't even want to do real job anymore. Firing committed, highly productive people in bunch, stopping the release of a new mass product is goes against the ethos and mission of Tesla.

 

[HaulingAss]

No.

Or

Yes, pay him but fire him and the whole board immediately and appoint Tom Zhu as the new CEO. He made Tesla scale and not Elon.

Elon currently destructive for everything what the management team has built he just fired. He truly has to go. He doesn't even want to do real job anymore. Firing committed, highly productive people in bunch, stopping the release of a new mass product is goes against the ethos and mission of Tesla.

Oh, please! You might as well just tell us you don't have a clue what has made Tesla the success that it is today. Sure, it was the combined effort of a lot of dedicated people but guess who figured out who to hire to put them on the right path to success, the path that allowed them to continually expand production of cars without tailpipes, at a time when everyone else is floundering and trying to figure out how to do it without losing huge amounts of money.

Tesla without Elon is just another car company. And we don't need that. The proof that Elon is a huge asset to Tesla is how hard the Tesla haters are trying to get him removed and to take away the compensation he was promised if he could turn Tesla into a profitable company. They wouldn't be doing it if they thought Tesla would shine even brighter without Elon. That they want him removed is all the proof you need that he is highly effective at running the company.

As a shareholder, I would sell 90% of my shares if Elon decided Tesla was no longer for him.

 

[BannedByTMC]

As a shareholder, I would sell 90% of my shares if Elon decided Tesla was no longer for him.

On the other hand I'd buy more if we got a CEO who didn't randomly fire an entire team and then realized he screwed up and started hiring them back again...

I know I know, I'm just a hater ?

 

[Cyber07]

Elon is a huge asset to Tesla is how hard the Tesla haters are trying to get him removed

That's the issue. You become a Tesla hater if you make any constructive criticism. Regardless of your trackrecord owning Tesla product since 2012 (still have the original Model S), have a CT and other 3 Tesla cars plus 8 PWs, you still get chastised.

Anyway, if you want to pay him, do it, if you think he deserves it due to his past performance. However, mandate him to be a full time CEO and gave up all other CEO jobs he has.

His current performance and his OWN admission that Tesla is overvalued do not deserve him to be continue the CEO.

He takes credit for everything but he didn't build Tesla alone. Ton of uncredited heros made Tesla.