The group of shareholders urges the investigation “appropriate therapeutic procedures” from Nasdak on the Elon Musk package of $ 29 billion

The SOC group, previously known as the CTW Investment group, works with pension funds sponsored by an alliance of unions that represent more than 2 million members; Many of these money are Tesla investors.

in A message dated August 19, 2025Addressing Eric Wittman, Deputy General Adviser and President of the Nasdaq Stock Exchange, SOC expressed “serious concerns” about the new Musk compensation package. Specifically, SOC said it was concerned that the Tesla Board of Directors is defrauding the nasdaq narrative rules when Musk was awarded the “CEO of 2025”, which was disclosed earlier this month. The group claims that this stock prize should have required shareholders ’vote, as specified under the Nasdak rules, given that the amended compensation plans are financially.

Tesla Board of Directors approved the new stock package in Musk according to the 2019 stimuli plan for the company, to a large extent as compensation for his granting previously – and was canceled –$ 56 billion options package From the year 2018, known as the “CEO performance award for the year 2018”. It was the old prize (Twice) was overturned by the Dilayer Chansiri Court Because of the questions related to the independence of the Board of Directors – a decision currently appealed at the Supreme Court of Dilayer.

luckSean mentioned next The new package will only be applied if Musk and Tesla are lost when the appeal in Delaware. He also pointed out that unlike the $ 56 billion prize, the latest prize of 29 billion dollars includes restrictions that protect shareholders: shares fall on the second anniversary of the grant, or early August 2027, only if Musk worked throughout the entire period as an executive head or president to develop products or their operations. Musk cannot sell any of those acquired shares until after five years, or on August 3, 2030.

luckAmanda Girut mentioned This, despite these restrictions, the package lacks the difficult performance goals for musk. Brian Den, Director Institute for Compensation Studies At Cornell University, tell luck Experts sometimes refer to this “giving fog”. In other words: “If you are in the vicinity and have enough breathing in you for the fog of the mirror, you will get it.”

The objections that were pressed by Socoustment Group have nothing to do with any of the features of the grant. The group argues that the Tesla Council is evading the approval of the shareholders on the package, in violation of the policy of the Nasdak list.

“Investment Group, Tigl Patel, said,” luck In an interview stating that “the real issue is the fact that the original plan … was completely clear in the disclosures that the company does not intend to include Elon Musk in that plan.” She added: “It is recognized that this is the first time that I have indicated such issues with the Securities and Stock Exchange Committee: Its understanding of the Nasdak standard is that” this is exactly what was designed to avoid it. ”

The shareholders are likely to be “do not think” that they were voting to agree to a new musk package

“SOC has real concerns about the independence of the manager,” Patel told “SOC who has real concerns about the independence of the manager,” luck. “This is a type of uniform board.” She said that her group is interested in issues related to the lack of independence director and the confrontation of the responsibilities of Elon Musk, and “I reached his head in the past few months.” This schedule interferes with the brief Musk sharing as a special consultant for the White House, including intensive participation with the Ministry of Government efficiency, or Doge. She said that the new compensation plan, if any, “was an opportunity for the council to focus musk on Tesla, and instead” they reached this package. She also indicated that the conditions that Musk will receive on the same salary, even if he is the head of the development of products or its operations, “no one heard of it.”

SOC Investment Group A long history and active from participating with TeslaFocusing on issues such as executive compensation, governance, council independence and work rights. The group has repeatedly opposed great salaries for musk – including Leadership campaigns to encourage shareholders to vote against the Musk Options Award worth $ 56 billion And calling for votes against relevant prizes, especially when you believe that appropriate approval procedures for the shareholders were circumvented or the governance standards have not been fulfilled.

The group also has Tesla shareholders urged voting against the re -election of some directors, such as Kimbal Musk and James MurdochQuoting concerns about the council’s independence from Elon Musk and the consensus of the shareholders’ interests. Similar to her current message to Nasdak, investigations were requested by the organizers in Tesla governance practices, on the pretext that the company’s board of directors prefers musk for the interests of public shareholders. For example, the group He asked the Supreme Education Council To investigate Tesla’s plan to reduce its council in 2022.

Tesla publicly did not respond to the message and did not respond immediately luckRequest to comment.