Knightshade
Well-Known Member
Regarding Elon's pay, what surprised me is the absence of any pay package going forward from where the previous one left off. Will this mean waiting for the next AGM to work that out? Could there be a special meeting once Tesla incorporates elsewhere?
As someone who wasn't a shareholder when the last package was voted on it still makes sense to me to pay the guy for his work.
However, there are good reasons not to expect some later shareholders to feel any obligation to vote for a pay package regarding past performance. There is less motivation for more recent shareholders to do so than there was for the original voters.
Yup-- I've spoken to a few friends who bought post-2018 and that was their exact reason for voting no.... I tried to present the "we need to insure Tesla honors its contract with Elon for previous work" and their explanation was they (as shareholders) never voted for any such deal in the first place, and they certainly wouldn't vote for it now.
I don't agree with them, but I think it's not an unfair argument for them to make.
It could have been combined into a vote for a new pay package going forward, which if passed, enabled the prior package again. That might have found more support overall. But, there may be a perspective I'm unaware for why any new package is absent from this year's AGM.
I suspect Tesla is reluctant to take ANY significant, new, corporate action at all until their incorporation is moved elsewhere-- lest such action be subject to Delaware courts jurisdiction.
On top of that, any future deal would look vastly different if the 2018 deal doesn't get reinstated-- so it doesn't make a ton of sense to vote on a new thing that might have to be entirely changed anyway.