Tesla Board Chair Robyn Denholm warns shareholders that CEO Elon Musk may leave if his $1 trillion compensation plan is rejected. The package includes 12 tranches of stock options tied to milestones like an $8.5 trillion market cap and advancements in autonomous driving. Denholm defends the plan as crucial for aligning Musk’s interests with shareholders.

Denholm urges investors to re-elect three veteran directors who have closely worked with Musk. Proxy advisers Glass Lewis and ISS advise against the deal, citing concerns about board independence and excessive compensation. Tesla has faced scrutiny over its ties to Musk, with a previous pay package voided by a Delaware court.

Tesla closed at $452.42, up 4.31% on NasdaqGS. The stock currently trades after hours at $452.31, down 0.02%. The proposed compensation plan, the largest in corporate history, aims to retain Musk as Tesla focuses on growth in AI and autonomous technology.

Read more at Nasdaq: Tesla Chair Warns Musk May Exit If $1 Tln Pay Deal Is Rejected