) shareholders re-approved Elon Musk’s record-breaking pay pact and signed off on a new Texas incorporation, a strong show of support for the CEO as he fights legal battles on multiple fronts.
For one, shareholders unhappy with the result could challenge its legality before the same Delaware court that voided Musk’s pay earlier this year. But corporate compensation and governance attorney Bob Lamb said it's possible the company disclosed enough this time around to insulate itself from added litigation.
Denholm’s choice of words — "retaining Elon’s attention and motivating him" — raised eyebrows, as most independent board chairs generally do not pen open letters urging shareholder approval of management pay packages, let alone claiming the compensation is needed to keep the CEO motivated. Glass Lewis and another proxy adviser, ISS, recommended that shareholders vote against the remuneration.
"We remain concerned about the total size of the award, the structure given performance triggers, dilution, and lack of mitigation of key person risk," Norges Bank Investment Management ,And to those who still can't, you will be able next time. I will do everything in my power to help.The fund, which also opposed Musk's pay package in 2018, holds a $5.6 billion stake encompassing 31.57 million shares, or 0.