Norway’s $2 trillion sovereign wealth fund will vote against Elon Musk’s proposed $1 trillion compensation package at Tesla’s next shareholder meeting, despite Musk’s threats to resign. Norges Bank Investment Management, which owns a 1.14 percent stake in Tesla, cited concerns about the size of the award, dilution, and key person risk.

The compensation package could see Musk receive close to $1 trillion in stock over the next decade, subject to performance goals. Activist groups and proxy advisers ISS and Glass Lewis have opposed the plan, leading Musk to label them “corporate terrorists.” The Tesla board is seeking shareholder approval for the package.

Read more at Nasdaq: Norway’s $2 Tln Wealth Fund Opposes Elon Musk’s $1 Tln Tesla Pay Package