More than 5,800 Tesla retail investors support Musk and support 2018 compensation plan

February 6 news: Last week, a Delaware judge revoked Tesla CEO Elon Musk’s $56 billion compensation plan for 2018.

Subsequently, more than 5,800 Tesla retail investors acted quickly to publicly express their support for Musk and his compensation plan. The ruling, initially prompted by a lawsuit filed by a band drummer who owned just nine Tesla shares, prompted mixed reactions.

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These Tesla investors who firmly support Musk have clear goals: they want clarity Express support for Musk's 2018 compensation plan and strongly request the Tesla board of directors to design a new compensation package for Musk as soon as possible, allowing him to own 25% of the company's voting shares. In addition, these investors are actively supporting Tesla's idea of ​​moving its company registration from Delaware to Texas.

The action quickly gained momentum after calls from social media influencers such as Alexandra Merz (@TeslaBoomerMama) and Amy Steffens (@_sftahoe) received the support of 5,821 Tesla shareholders. These shareholders hold a total of 23,337,127 Tesla shares (with a total value of more than $4 billion) and jointly signed an open letter to Tesla’s board of directors.

The following is an open letter from these investors to the Tesla board of directors:

We firmly support the transfer of Tesla’s registration place from Delaware to Texas because of the special SLA's headquarters are already located there. Stripping shareholders of their right to vote could put Tesla’s registration status in Delaware in jeopardy.

We hope that the board of directors can carefully study various options to ensure that shareholder votes can effectively support and maintain the effectiveness of Tesla’s 2018 CEO compensation plan. Shareholders do not want to see their voting rights arbitrarily taken away. Tesla's board members are elected by shareholders, who understand the close ties between board members and Musk. The recent decision by Judge McCormick to set aside the 2018 CEO compensation plan undoubtedly sets a dangerous precedent for all shareholders of American companies. Therefore, we strongly call on the board of directors to conduct in-depth research and careful consideration to ensure that Tesla’s shareholder voting rights are protected.

We hope the board of directors can fine-tune Musk's CEO compensation package based on the 2018 compensation plan to incentivize Tesla to achieve a series of ambitious performance and market capitalization targets.

These performance milestones may include: achieving Fully Self-Driving (FSD) to the L5 level of autonomous driving, Tesla’s energy department successfully completing the annual kilowatt-hour target, the next generation electric vehicle platform officially entering production, and the humanoid robot engine Mass production of Optimus, etc. Market capitalization milestones could include Tesla's total market capitalization increasing by $500 billion or $1 trillion, or any intermediate milestone with practical significance, or it could exceed the combined market capitalization of Saudi Arabian Oil and Apple. Part of the new plan will come in the form of stock awards to Musk, ultimately bringing his share of voting rights above 25%. If Tesla merged in a state that allowed super voting shares, we would also fully support it.

Shareholders who complete this form agree that their names and details will be disclosed to the Tesla Board of Directors and may be made public.

It is worth noting that this action by Tesla investors brought together the power of shareholders from different fields. According to the content of the letter disclosed by the organization, among the 5,821 Tesla shareholders, some investors only hold 1 Tesla share, while others hold thousands of shares. They range from long-term investors who have held Tesla stock since 2010 to newer shareholders who joined just last month. Overall, the move shows that Musk has a large and loyal following among Tesla shareholders.

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