Elon Musk Fires Back At CalPERS CEO Over Compensation Package Vote: ‘What She’s Saying Makes No Sense’ – Tesla (NASDAQ:TSLA)

Elon Musk Fires Back At CalPERS CEO Over Compensation Package Vote: ‘What She’s Saying Makes No Sense’ – Tesla (NASDAQ:TSLA)


27% profits every 20 days?

This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), has responded to claims by California Public Employees’ Retirement System (CalPERS) CEO Marcie Frost regarding her decision to vote against his compensation package.

What Happened: On Wednesday, Musk took to his social media platform X to express his disagreement with Frost’s decision.

“What she’s saying makes no sense, as all the contractual milestones were met. CalPERS is breaking their word,” he wrote.

The reaction was in response to a post by an X user Jim Hall, who shared a video of Frost telling CNBC about her intention to vote against Musk’s compensation package, despite having voted for it in 2018.

What she’s saying makes no sense, as all the contractual milestones were met. CalPERS is breaking their word.

— Elon Musk (@elonmusk) May 29, 2024

See Also: SpaceX CEO Elon Musk Says Gigantic Starship To Get Even Taller With 3x More Thrust Than Saturn V

Why It Matters:  This development follows a series of events that began in January. The $56 billion pay package, awarded earlier, was overturned by a Delaware court this year, calling it an “unfathomable sum.” Tesla’s board is attempting to reinstate it through a shareholder vote in June, even investing in advertisements to support the effort.

Meanwhile, the Delaware judge, who earlier voided Musk’s pay package, assured that Tesla would not contest the ruling.

Morgan Stanley analyst Adam Jonas, in a note earlier this month, said that the upcoming meeting will drive material volatility in the stock and determine the company’s long-term strategic direction.

Price Action: As of Wednesday, Tesla’s stock was trading 0.050% lower at $176.66 at the time of writing, according to Benzinga Pro.

Read Next: Glass Lewis Tells Shareholders To Vote Against Elon Musk’s Proposed $56 Billion Compensation Package

Image Via Shutterstock

This story was generated using Benzinga Neuro and edited by Pooja Rajkumari


27% profits every 20 days?

This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


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