Famous agency consulting firm Glass Lewis announced on May 25th local time that it has urged Tesla shareholders to reject CEO Elon Musk's $56 billion compensation plan, which, if approved, would be the largest compensation plan for a US corporate CEO. The report lists reasons such as excessive scale of compensation agreements, exercise dilution effects, and ownership concentration. It also mentioned that Musk's "series of very time-consuming projects" expanded with his high-profile acquisition of Twitter (now known as X).
In January of this year, the Delaware Court of Equity declared the original compensation plan invalid. Musk subsequently attempted to relocate Tesla's registered address from Delaware to Texas.