Core Viewpoint - The Norwegian Government Pension Fund, one of the largest sovereign wealth funds globally, plans to vote against Elon Musk's proposed $1 trillion compensation plan at Tesla's upcoming annual shareholder meeting, citing concerns over the total reward, equity dilution, and key person risk [2][5]. Group 1: Compensation Plan Details - Musk's compensation plan could grant him an additional 12% of Tesla's shares if he increases the company's valuation to $8.5 trillion over the next decade, which is nearly eight times its current valuation [2]. - The proposed reward is valued at slightly over $1 trillion, making it the largest compensation plan in history, but it includes a performance-based structure where Musk would receive nothing if the valuation targets are not met [2]. Group 2: Investor Reactions - The Norwegian fund, which holds 1.12% of Tesla's shares valued at $17 billion, has previously opposed Musk's earlier $56 billion compensation plan from 2018 [5]. - In contrast, Baron Capital, another significant shareholder, has expressed support for Musk's compensation proposal [5]. Group 3: Other Institutional Investors - Other institutional investors, including BlackRock, Vanguard, and State Street, have not disclosed their voting intentions ahead of the shareholder meeting [6]. - Tesla's board is actively seeking shareholder approval for the compensation plan, with warnings that a rejection could lead to Musk's departure and the potential appointment of a new CEO from within the company [6].

Core Viewpoint - Elon Musk's "trillion-dollar compensation" plan faces significant opposition, particularly from Norway's sovereign wealth fund, which has announced its intention to vote against the proposal [1][2] Group 1: Shareholder Opposition - Norway's oil fund, managing $2.1 trillion, appreciates Musk's leadership but will vote against his compensation plan due to concerns over its overall scale, equity dilution, and failure to mitigate key person risk [2] - This is not the first time the fund has opposed Musk's high compensation; it previously voted against a $56 billion plan, which was later approved but subsequently rejected by a Delaware court [2] - Several large pension funds have also publicly opposed the compensation plan, arguing that the board's relentless pursuit to retain Musk harms Tesla's reputation [2] Group 2: Voting Timing and Relationship Tensions - The Norway fund typically announces voting intentions five days before the annual meeting but did so only two days in advance this time, aiming to ensure all relevant information was considered [3] - The fund's voting stance reflects a tense relationship with Musk, who declined a dinner invitation from the fund's CEO after the rejection of the previous compensation plan [3] - Musk's comments on social media suggest he believes Tesla's value surpasses that of all other car companies combined, indicating he may not be easily replaceable [3] Group 3: Market Implications - Morgan Stanley has warned that if Musk's compensation plan is not approved, Tesla's stock could face an immediate drop of over 10%, signaling a lack of confidence in Musk's leadership [4] - The rejection of the plan could also lead to uncertainty regarding the company's strategic outlook and increase the risk of losing key talent [4]

Norway's $1.9 trillion dollar sovereign-wealth fund voted against Elon Musk's trillion-dollar pay package. That could make some investors nervous. ...

Core Viewpoint - The proposed $1 trillion compensation plan for Elon Musk is facing significant opposition from major investors, including Norway's sovereign wealth fund and Calpers, which could impact Tesla's governance and future direction [1][2][3]. Group 1: Opposition to Compensation Plan - Norway's sovereign wealth fund announced plans to vote against Musk's compensation proposal at Tesla's upcoming annual shareholder meeting, citing concerns over the plan's scale and potential dilution of shares [2]. - Calpers, the largest public pension fund in the U.S., also plans to oppose the compensation plan, arguing that it far exceeds compensation levels of similar companies and raises governance concerns [3][4]. - Both funds have expressed worries about the concentration of power among shareholders and the overall governance structure of Tesla [3][4]. Group 2: Potential Impact of Vote - If the compensation plan is not approved, Tesla's board chair warned that Musk might leave the company, which could lead to significant value loss for Tesla [5]. - The compensation plan is designed to incentivize Musk to lead Tesla for at least another 7.5 years, with ambitious performance targets set for the company [5][6]. - The outcome of the vote on November 6 will not only determine Musk's compensation but also influence Tesla's governance structure and strategic direction [7]. Group 3: Performance Targets and Governance Concerns - The compensation plan includes performance benchmarks that Musk must meet to receive full payment, including increasing Tesla's market value from approximately $1 trillion to $8.5 trillion and achieving various operational goals [5][6]. - The board views this plan as crucial for aligning Musk's interests with long-term shareholder value, but it faces criticism regarding the governance implications of such a high compensation package [6][7]. - Previous compensation proposals for Musk have faced similar opposition, indicating ongoing concerns from institutional investors about executive pay and governance practices at Tesla [4][6].

特斯拉董事长罗宾·登霍姆（Robyn Denholm）认为，这场投票对留住马斯克担任首席执行官至关重要。 而马斯克已公开威胁，若股东再次否决他的薪酬方案，他将离职。 去年，作为特斯拉前十大股东（持股1.1%）的挪威主权财富基金就曾投票反对马斯克当时那份规模达 560亿美元的薪酬方案——该方案曾是美国企业史上最大规模高管薪酬计划。尽管该560亿美元薪酬方案 在去年6月获得股东批准，但同年12月被特拉华州法院第二次驳回。 两大股东咨询机构——格拉斯·刘易斯（Glass Lewis）和机构股东服务公司（ISS）均建议投资者否决这 份最新的1万亿美元薪酬方案。该方案与特斯拉股价及运营绩效的高难度里程碑目标挂钩。 一批大型养老金基金也发布公开信反对该薪酬计划，称特斯拉董事会执着于留住首席执行官;的做法已 损害公司声誉，并导致高管薪酬过高。 特斯拉年度股东大会前，1.9万亿挪威主权财富基金公开反对马斯克1万亿薪酬方案。马斯克此前威胁方 案不通过就离职。 挪威规模达1.9万亿美元的主权财富基金，成为首家公开表态的主要投资者，明确反对特斯拉（TSLA） 首席执行官埃隆·马斯克（Elon Musk）新提出的1万亿美元薪酬方案。 ...

此外，NBIM 周二还表示，将对三名面临连任表决的特斯拉董事会成员中的两人投反对票。 特斯拉董事会正积极推动股东批准此项计划，公司董事长罗宾・德诺姆（Robyn Denholm）上周警告称，若该交易遭否决，马斯克可能会离开公司。 据路透社分析，尽管该薪酬计划在 10 年内可能授予马斯克价值高达 1 万亿美元的股票，但由于授予时将扣除股票的行权成本，马斯克实际可获得的价值略 低，最高约为 8780 亿美元（现汇率约合 6.25 万亿元人民币）。 挪威央行投资管理公司（Norges Bank Investment Management，简称 NBIM）在其官网表示："尽管我们认可马斯克先生富有远见的领导为公司创造的重大价 值，但我们仍对此次奖励的总规模、股权稀释效应以及缺乏对关键人物风险的有效缓释措施感到担忧—— 这与我们一贯的高管薪酬立场一致。" 该基金目前持有特斯拉 1.12% 的股份，市值约 170 亿美元，为特斯拉第七大股东。此前，该基金也曾投票反对马斯克上一轮价值最高达 560 亿美元（现汇 率约合 3988.21 亿元人民币）的薪酬计划，此举曾引发马斯克强烈不满，他随后拒绝了出席奥斯陆一场会议的邀请。 ...

【11月6日特斯拉将对马斯克薪酬计划进行股东表决】11月3日消息，马斯克的薪酬计划本周四将进行股 东表决，若通过，将成企业史上最大薪酬方案之一。摩根士丹利指出，若方案被否决，特斯拉股票或立 即遭超10%抛售，公司战略未来也会受影响。报告称，方案失败会被市场解读为对马斯克领导力的"不 信任投票"，或引发剧烈反应。分析师表示，马斯克可能重申对更大控制权的要求，特斯拉吸引和留住 人才的能力，高度依赖其领导地位，方案失败将动摇根基。 扫码查看原文 【11月6日特斯拉将对马斯克薪酬计划进行股东表 决】11月3日消息,马斯克的薪酬计划本周四将进 行股东表决,若通过,将成企业史上最大薪酬方案 之一。摩根士丹利指出,若方案被否决,特斯拉股 票或立即遭超10%抛售,公司战略未来也会受影 响。报告称,方案失败会被市场解读为对马斯克领 导力的"不信任投票",或引发剧烈反应。分析师 表示,马斯克可能重申对更大控制权的要求,特斯 拉吸引和留住人才的能力,高度依赖其领导地位, 方案失败将动摇根基。 本文由 Al 算法生成,仅作参考,不涉投资建议,使用风险自担 和讯财经 和而不同 迅达天下 本文由 AI 算法生成，仅作参考，不涉投资建议， ...

他所签署的1万亿美元的薪酬协议是一项为期10年的计划，根据该计划，马斯克需达成一定的业绩指标 才能获得全额薪酬。此外，马斯克还能获得更多股票，从而使他能够拥有这家汽车制造商至少25%的股 份。 马斯克过去的薪酬方案也受到了一些质疑。去年，加州公务员退休基金首席执行官Marcie Frost表示， 该养老金计划与马斯克提出的560亿美元薪酬方案相冲突。该计划此前还反对了2018年的一项价值超过 500亿美元的协议。那项薪酬方案最终被特拉华州法院驳回，不过特斯拉正在对该裁决提起上诉。 美国最大的公共养老金计划——加州公务员退休基金(Calpers)——正计划对埃隆.马斯克与特斯拉 (TSLA.US)达成的1万亿美元的薪酬协议投反对票，使得这项美国企业中最高薪酬待遇的计划存在变 数。据收集的数据，加州公务员退休基金持有约500万股特斯拉股票。 加州公务员退休基金的一位发言人通过电子邮件发表声明称："特斯拉提出的首席执行官薪酬方案比同 类公司首席执行官的薪酬方案要高出好几个数量级。而且这还会进一步将权力集中到单一股东手中。" 马斯克一直在推动薪酬方案的制定工作，以便在11月6日在奥斯汀举行的这家汽车制造商的年度股东大 ...

Core Viewpoint - The Board Chair of Tesla is urging shareholders to disregard the advice of proxy advisory firms, unions, and corporate watchdogs in favor of approving CEO Elon Musk's unprecedented compensation package, which is contingent on his performance achievements [2]. Group 1 - The shareholder vote is scheduled for next week, indicating a critical decision point for Tesla regarding executive compensation [2]. - The compensation package for Elon Musk is described as unprecedented, highlighting its unique nature in the context of corporate governance [2]. - The Board Chair's request reflects a significant divergence from the recommendations of influential advisory firms and stakeholders, suggesting potential internal and external conflicts regarding executive pay [2].

Core Viewpoint - Elon Musk threatens to leave Tesla if he does not receive a high compensation package, which is currently under scrutiny by shareholders [1] Group 1: Compensation Plan - Tesla shareholders are set to vote on a controversial new compensation plan for Musk, which could involve stock options worth up to $1 trillion [1] - Analysts have raised concerns about the plan, noting that Musk could still receive compensation valued between $20 billion and $40 billion even if the company's performance is below the S&P average [1] - The proposed compensation could result in Musk receiving the highest pay in history despite Tesla's total compensation exceeding the company's profits since its inception [1] Group 2: Market Reaction - A commentator expressed concerns about the first payment of the compensation plan, to which Musk did not respond but instead highlighted Tesla's market value [1] - Musk implied that he would step down as CEO if he does not receive the compensation, which has led to discussions among shareholders about supporting the plan in the upcoming vote on November 6 [1]