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Tesla Shareholders Advised to Vote Against Elon Musk’s Pay Package

Proxy-advisory firm Glass Lewis has advised Tesla shareholders to vote against Elon Musk’s multibillion-dollar pay package at the company’s meeting next month. In a 71-page report, Glass Lewis told shareholders that Musk’s proposed compensation—recently valued at $46 billion—could dilute their existing holdings in Tesla. Shareholders will vote at the June 13 meeting on Musk’s pay package and other proposals, including moving the company’s incorporation to Texas, which Glass Lewis also advised against.

The Wall Street Journal

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