Tesla Urges Shareholders to Approve Elon Musk’s $1 Trillion Pay Package

Image: Tesla

Tesla is rallying shareholders ahead of its 2025 Annual Meeting, set for November 6, urging them to back a record-setting $1 trillion CEO Performance Award for Elon Musk and follow the board’s recommendations on all of the proposals.

“Tesla is at a critical inflection point. We need your vote ahead of our 2025 Annual Meeting on November 6,” the company said in a post on X.

“We are asking you to vote with the Board’s recommendations on all proposals. Tesla is on the precipice of another massive wave of transformational growth, as demonstrated by the unveiling of our Master Plan Part IV. If you believe, like us, that @ElonMusk is the CEO that can make this ambitious vision a reality, vote your shares.”

Tesla shareholders will soon begin receiving their control numbers and voting instructions from their brokers, enabling them to cast their votes ahead of the 2025 Annual Meeting.

On its “Vote Tesla” website, the company doubled down on its support for Musk, calling the $1 trillion CEO pay package one of two proposals “critical for the future of Tesla” — the other being the Amended & Restated 2019 Equity Incentive Plan to expand and replenish the company’s equity reserves for employee awards.

“Elon is a generational leader, and, under his visionary leadership, we have the potential to become the most valuable company in history, and, in return, create unprecedented value for our shareholders,” Tesla added on the website.

Tesla’s board has recommended shareholders vote in favor of all six company-sponsored proposals, the centerpiece of which is Musk’s proposed $1 trillion performance-based pay plan. Here’s the full list of proposals up for a vote at the meeting, along with the board’s recommendations on each one:

Tesla Proposals

1. Elect three Class III directors — FOR
2. Advisory vote to approve 2024 executive compensation — FOR
3. Amended & Restated 2019 Equity Incentive Plan — FOR
4. 2025 CEO Performance Award ($1 trillion plan) — FOR
5. Ratify PwC as Tesla’s independent auditor — FOR
6. Amend bylaws to remove supermajority removal provision — NONE

Shareholder Proposals

1. Proposal to invest in xAI — NONE
2. Add ESG metrics to executive compensation — AGAINST
3. Conduct child labor audit — AGAINST
4. Repeal 3% derivative suit ownership threshold — AGAINST
5. Amend Article X of Tesla’s bylaws — AGAINST
6. Annual election of directors — AGAINST
7. Implement proposal with 54% support in 2024 — AGAINST
8. Require shareholder approval for certain bylaw amendments — AGAINST

Tesla’s 2025 Annual Shareholder Meeting is slated for 1:00 p.m. PT/4:00 p.m. ET on Thursday, November 6, at Gigafactory Texas, with Elon Musk promising it will be a “special” event. The company also said it is conducting a random drawing to determine which shareholders will be eligible to attend the meeting in person. Shareholders can click here to sign up.