Tesla comments on second firm recommending no vote on Musk pay

Tesla (TSLA) said via X: “ISS and Glass Lewis have recommended against Tesla’s proposals time and time again since the 2018 CEO Performance Award was introduced. It’s a good thing our shareholders ignored those recommendations otherwise they may have missed out on our market capitalization soaring by 20x from March 2018 to August 2025. Now, Glass Lewis has followed ISS and issued another misguided recommendation that again disregards the fundamental purpose of public companies and who they serve – the shareholders. These firms do not own Tesla – you do. Glass Lewis’s one-size-fits-all checklists undermine shareholders’ interests, including by opposing proposals designed to build long-term value at Tesla. The shortcomings of these proxy advisors are echoed by state and federal officials, who are scrutinizing ISS’s and Glass Lewis’s practices, including by implementing laws that require that their recommendations be based on the financial interests of shareholders, implying a failure to do so in the past and presently. Shareholders have spoken twice on Elon’s 2018 CEO Performance Award. ISS’s and Glass Lewis’s recommendations attempt to override the mandate our shareholders delivered to Elon and ignore the staggering financial results delivered under Elon’s leadership, elevating their rigid policies over shareholder value. Glass Lewis’s recommendations on Ira and Kathleen are indefensible. Ira continues to drive major growth, having built an effective and tailored governance regime and brings technical rigor to Tesla’s toughest product and strategy calls. Kathleen has been a part of two of the most transparent governance processes in modern day corporate America and brings decades of legal, operating, compensation, human capital and management expertise critical to winning the AI talent war. Vote yes to robots, not robotic voting. Vote with Tesla on ALL proposals.”