The performance targets for triggering the pay award include:
Tesla must attain a market cap of $8.5 trillion.
Tesla must sell 20 million vehicles
Tesla must operate one million robotaxis
Tesla must make profits of $400 billion
Tesla must get 10 million paid-up subscribers for its full self-driving technology.
Tesla must deliver 1 million Optimus humanoid robots.
Shareholders have expressed a variety of opinions in advance of the vote.
“If the stock is going to go up sixfold – and that’s a requirement here – then I’m 
going to make a lot of money. Why do I care what kind of money he makes if he’s effecting the change and the vision?” Nancy Tengler, CEO and chief investment officer of Laffer Tengler Investments, told Reuters.
“If you think that Musk would potentially leave and the Tesla stock would crater, that’s not something you want to have happen on your watch,” said David Larcker, director of the Corporate Governance Research Initiative at Stanford University’s business school.
The Tesla share price of around $460 is seen as inflated above fundamental valuations because of Musk’s presence as CEO.
Norges Bank Investment Management (NBIM), which manages Norway’s sovereign wealth fund, says it has already voted against the pay package.
“While we appreciate the significant value created under Mr. Musk’s visionary role, we are concerned about the total size of the award, dilution, and lack of mitigation of key person risk- consistent with our views on executive compensation,” says NBIM.
Norway’s wealth fund holds a 1.14% stake in Tesla valued at $11.6 billion
