The head of Tesla's board of directors says her focus in helping develop a huge compensation package for CEO Elon Musk in 2018 was the results he could bring, not how many hours he devoted to the job.
challenging a 2018 compensation plan for CEO Elon Musk potentially worth more than $55 billion that she was less concerned about how much time Musk would commit to the company than in the results he could bring.
"I'm not concerned about time," added Denholm, who was a member of the compensation committee at the electric car and solar panel maker that developed the plan. "I know periods of time where he is sleeping on the factory floor." Attorneys for the defendants have noted that two institutional proxy advising firms that urged shareholders to reject the plan nevertheless noted that it would require "significant and perhaps historic achievements" and require growth that "appear stretching by any benchmark."SEE ALSO: Elon Musk pay package at Tesla challenged in Delaware court
To date, Tesla has achieved all 12 of the market capitalization milestones and 11 operational milestones, resulting in the vesting of 11 of the grant's 12 tranches and providing Musk over $52.4 billion in stock option gains, according to the lawsuit. Since the grant was awarded, Tesla's market capitalization has increased from $59 billion to more than $613 billion now, having briefly hit $1 trillion early this year.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Tesla stock buyback: Elon Musk says it is 'up to the Tesla board'Responding to a sharholder's tweet urging a buyback, Musk said, 'This is up to the Tesla board.'
Consulte Mais informação »
Tesla board chair testifies in Elon Musk compensation lawsuitThe head of Tesla's board of directors testified Tuesday in a shareholder lawsuit challenging a 2018 compensation plan for CEO Elon Musk potentially worth more than $55 billion.
Consulte Mais informação »
Testimony begins from Tesla board in Elon Musk pay lawsuit - AutoblogTestimony began Monday in a Delaware courtroom where Tesla shareholders are challenging CEO Elon Musk's compensation plan potentially worth $56 billion.
Consulte Mais informação »
Elon Musk pay package at Tesla challenged in courtWILMINGTON, Del. (AP) — Testimony began Monday in a Delaware courtroom where Tesla shareholders are challenging a compensation plan for CEO Elon Musk potentially worth more than $55 billion. The lawsuit alleges that the performance-based stock option grant was negotiated by a compensation committee and approved in 2018 by Tesla board members who had conflicts interest due to personal and professional ties to Musk.
Consulte Mais informação »
Elon Musk pay package at Tesla challenged in courtTestimony is under way in a shareholder lawsuit challenging approval by Tesla’s board of directors of a compensation plan potentially worth more than $55 billion for CEO Elon Musk. elonmusk kprc2 click2houston tesla
Consulte Mais informação »
Elon Musk in court over fat Tesla pay packageThe multi-day trial over billionaire Elon Musk's 2018 Tesla compensation package kicked off at Delaware's Court of Chancery on Monday morning.
Consulte Mais informação »