Core Viewpoint - The upcoming shareholder vote on Elon Musk's $55 billion pay package is critical for Tesla, as the plan was previously invalidated by a Delaware judge due to Musk's influence over the board [1][2]. Compensation Plan Details - The original compensation plan, established in 2018, was valued at approximately $2.3 billion in stock-based compensation charges at that time [2]. - If the 2018 pay plan is rejected, creating a new plan with similar stock grants could cost around $25 billion in stock-based compensation today [2]. - The executive pay plan consists of a 10-year grant of 12 tranches of stock options, which vest upon Tesla achieving specific milestones [6]. Implications of the Vote - Tesla's board chair, Robyn Denholm, indicated that rejecting the pay plan could lead to increased costs or decreased motivation for Musk, which would not be favorable for shareholders [3]. - Denholm emphasized that ratifying the plan is the best option for shareholders, as alternatives would not be as beneficial [3]. - There is uncertainty regarding the validity of the pay plan even if shareholders approve it, as the Delaware court could still rule it invalid [3]. Shareholder Perspectives - There is a divide among shareholders, with some investment firms urging a vote against the pay package, while Tesla's board and key shareholders advocate for its approval [5]. - Musk's compensation is performance-based, relying on specific metrics defined in 2018, and he does not receive a salary [5].

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email.Access your favorite topics in a personalized feed while you're on the go. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe US' top competition watchdog is investigating whether Microsoft's deal to hire a majority of Inflection ...

McDonald's lost its chicken Big Mac trademark rights in the EU on Wednesday.The trading bloc's General Court ruled in favor of Supermac's, an Irish fast-food chain.Rival takeaway companies will now be able to use the term "Mac" to sell chicken-based products. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address ...

Walmart just announced a new slate of pay and benefits perks for US hourly associates.Some 700,000 workers are eligible for a new bonus that increases with their years with the company.The retailer is also expanding online training options, as well as piloting a trades career pathway. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the ...

Boeing launched its Starliner spacecraft carrying two astronauts to the International Space Station. The launch went smoothly after the program was plagued by delays.Boeing's spacecraft would give NASA a second option for human transport to space.  Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clickin ...

Tesla shareholder Ron Baron has backed Elon Musk's $56 billion pay package. The investor said that without Musk, there would be "no Tesla" in an open letter. Tesla is battling to win over shareholders and ratify Musk's 2018 compensation plan. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicking “Si ...

Google's chief privacy officer will be leaving the company in the fall.Keith Enright will not be replaced; instead, Google will restructure his role.The departures come as Google's privacy policies face scrutiny. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicking “Sign Up”, you accept our Terms of ...

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email.Meta just unveiled its plan for Facebook to win over a surprising demographic: Gen Z.I say surprising because it's widely known that Facebook is "for old people" — many teens and young people think of it as something their mom or grandma uses. According to a 2023 Pew survey on teen internet use, only about a third of ...

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email.Access your favorite topics in a personalized feed while you're on the go. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA leaked copy of an internal Google database revealed thousands of privacy-related incidents from 2013 to 2 ...

Microsoft on Monday cut hundreds Azure jobs to focus on AI investments, Business Insider reported.An internal memo said a focus to "define the AI wave" was behind the changes.The company is also increasing investments in quantum computing and other science projects. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email addre ...