Tesla’s vote wasn’t about pay. It was about who really runs the company

What we drew from this source

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• Proxy advisory tools are increasingly misaligned with the realities of the modern economy and cannot meaningfully assess companies operating at the frontier of technological transformation

  80% confidence

• Even excluding shares held by Elon Musk, the proposals passed by over 70%, well over the required majority threshold

  80% confidence

• Tesla shareholders voted according to what they believed was in their financial interest and would create long-term value, exercising independent judgment rather than following proxy advisory firms

  80% confidence

• Tesla's compensation plan is excessive and unconventional

  80% confidence

• Shareholders have affirmed the substance of the 2018 CEO Performance Award on three separate occasions, each with support exceeding 75% of votes cast

  80% confidence

• The days of blind deference to advisory firms that fail to appreciate the complexities of modern-day businesses are coming to an end

  80% confidence

• The 2025 CEO Performance Award has no salary, no cash bonus, and no payout unless extraordinary milestones are reached

  80% confidence

• Derivative lawsuits are too often exploited as vehicles for opportunistic litigation, enriching plaintiff lawyers at the expense of shareholders

  80% confidence

• Tesla operates across artificial intelligence, robotics, autonomous solutions, energy systems, semiconductor development, and advanced manufacturing

  80% confidence