Elon Musk's $1 trillion pay plan faces pushback from investors, state officials

A group of Tesla shareholders including SOC Investment Group and several state officials urged investors to vote against Elon Musk's $1 trillion pay package at the company's November meeting, a regulatory filing showed on Thursday. In the letter to Tesla shareholders, the coalition - which also includes state treasurers of Nevada, New Mexico and Connecticut - called on investors to oppose the re-election of directors Ira Ehrenpreis, Joe Gebbia and Kathleen Wilson-Thompson. The group cited what it called the board's "relentless pursuit" of retaining Musk, saying it has delayed progress on key goals set at the last annual meeting, and pointed to declining operational and financial performance and a "failure to provide meaningful real-time oversight of management." Despite reporting record...