The drama at Tesla appears to be unending. Following a disappointing first quarter of sales, mass layoffs, a major safety recall of the Cybertruck and concerns over the company's apparent pivot to robotaxis, another big flashpoint has been lingering for the Austin-headquartered company: CEO Elon Musk's $56 billion payday. In January, the Delaware Court of Chancery revoked a pay package for Musk originally approved in 2018.
It's key to note that Lander's opinion, while shared by many Tesla shareholders and even critics, is far from the prevailing one. Many retail investors have indicated they will vote for Musk's compensation plan. Meanwhile, the company has 'pulled out all the stops' to get the package approved, including advertisements, statements from its board chair and online drives.