Tesla Inc.’s proposal to give Chief Executive Elon Musk an estimated $2.6 billion payday stretched out over a decade would be too costly and too dilutive to shareholders, said one of the two largest independent services meant to advise investors on crucial shareholder votes.
Tesla’s (TSLA, $333.35) proposal “is peculiar in that it provides increasingly outsized compensation for levels of success ranging from noteworthy to unparalleled,” while at the same time allowing Musk to keep his distance from the company, proxy service Glass Lewis said in a report Monday.
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