Tesla is urging shareholders to vote in favor of the validation of Elon Musk’s 2018 compensation plan and the company’s proposed move from Delaware to Texas. This effort is outlined in a letter included in the Schedule 14A and is titled “An American Growth Story.” The letter emphasizes Musk’s successful achievement of the targets in the 2018 compensation plan, which led to significant growth for the company. It expresses the view that Musk’s leadership, especially when incentivized, has been instrumental in driving innovation and creating value for shareholders.
It also stresses the importance of Musk’s leadership as Tesla enters the next phase of its growth. In addition, Tesla highlights the financial success under Musk’s leadership, citing a $15 billion profit and a ~1,100% return on investment for shareholders since March 2018. It also underscores the positive impact of Giga Texas on the state’s economy and the fact that Tesla’s cars are leading in the “Most American” category. The letter ends with a quote about Musk’s achievements showcasing the essence of America.
Overall, the letter makes a strong case for Musk’s leadership and the company’s growth under his direction, encouraging support for the proposed initiatives.