Tesla secures major victory in shareholder vote in Nordic region

Tesla shareholders in the Nordic region now have the ability to vote independently from their brokerages, a rare practice that marks a significant win for the automaker as its Annual Shareholder Meeting approaches. Typically, they did not have the option to participate in non-European Annual Meetings, but this year they have been granted the opportunity. Two Swedish banking platforms, Avanza and Nordet, announced that they would allow investors to vote on various matters, including CEO Elon Musk’s $56 billion pay package, in response to numerous requests from shareholders. Nordet noted Musk’s emphasis on the importance of giving Tesla shareholders a voice, particularly in what could be a pivotal meeting for the company.

The approval of Musk’s pay package has been a point of contention, with larger firms and brokerages divided on the matter. The outcome of the vote on the pay package at the upcoming meeting remains uncertain. Musk, however, expressed confidence in the support from retail shareholders for the pay package, stating that approximately 90% of those who have voted are in favor of it. It is evident that Tesla places significance on individual shareholder votes, and the Shareholder Meeting, which is scheduled for this Thursday, may potentially be impacted by these independent votes.

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