Why are people voting for the mask reward plan?
In the Delaware court, after basically colluding with the board of directors and being engulfed in smoke for not properly disclosing the feasibility of reward targets, Mr. Musk and Tesla are trying to push through the +50 billion dollar reward package again. As I understood it, the goals were as follows. Revenue of 20 billion dollars and total market value of 100 billion dollars was achieved. Tesla achieved both easily, and they knew that would happen even before the rewards package (which was undisclosed at the time). Stock options of 300 million shares (or about 10% of the company) seem unreasonable for these targets. However, if the negotiations were fair, there is no technical problem. There is no denying that Tesla's board of directors is under Musk's control.
If you look at Tesla from a broader perspective, it's down 30% year to date. Mr Musk has laid off about 10% of his employees. FSD is not close to completion yet. Sales have declined year over year. The Supercharger team has been largely fired. Musk has launched a company that directly competes with Tesla. So my question is why do people vote in favor of handing over 10% of the company to this man who doesn't seem to care about Tesla.
Another question is why do people invest in companies that operate this way?
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