Source link : https://tech365.info/tesla-shareholder-group-challenges-musk-compensation-award-cleantechnica/
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The controversy over the assorted compensation packages awarded to Elon Musk by the Tesla board since 2018 took a brand new flip this week. A shareholder group referred to as SOC Funding Group has requested NASDAQ — not the Securities and Change Fee — to invalidate the most recent proposed compensation bundle on the grounds that it violates the buying and selling platform’s guidelines designed to guard shareholders of publicly traded corporations.
The SOC Group, previously referred to as the CtW Funding Group, works with pension funds sponsored by a coalition of unions representing over 2 million members. A lot of these funds are Tesla traders. Fortune studies that in a letter despatched August 19, 2025, to Erik Wittman, deputy common counsel and head of enforcement at NASDAQ, the group expressed “serious concerns” about Musk’s new compensation bundle.
Particularly, SOC mentioned it was involved that Tesla’s board discovered a option to get round NASDAQ itemizing guidelines when awarding Musk the “2025 CEO Interim Award” the board permitted earlier this month. It claims that plan ought to have required a shareholder vote as stipulated by NASDAQ guidelines, because it materially amends Musk’s compensation plan.
The Tesla board permitted Musk’s compensation bundle beneath the corporate’s 2019 Fairness Incentive Plan, which was designed to interchange the $56 billion choices bundle…
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Author : tech365
Publish date : 2025-08-23 17:08:00
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