Tesla investors currently have the chance to vote on a number of proposals for the company’s upcoming shareholder’s meeting, with CEO Elon Musk’s 2018 pay package hanging in the balance after it was struck down by a Delaware judge. In recent weeks, a number of Teslarati readers have shared how they voted or plan to vote on the proposal, with about a month left to go until the meeting.
After Delaware Judge Kathaleen McCormick voided the previously approved $56 billion pay package for Musk in January, both Musk and the company have appealed the decision, and the board of directors has launched a vote on ratifying the package for the stockholder’s meeting next month. Voting has been open for the past few weeks, and following our recent story detailing one of Tesla’s largest shareholders as he criticized Musk and suggested voting “no” on the measure, many have said they voted in favor of the proposal.
Tesla also launched a website dedicated to explaining how shareholders can vote, and detailing the board’s voting recommendations. Crucially, the board has recommended “yes” votes on both proposals three and four, which concern Tesla’s potential move to re-incorporate in Texas instead of Delaware, and the pay package vote for Musk, respectively.
The annual shareholder’s meeting will be held on June 13, and shareholders can continue to vote on the proposals between now and then. Tesla has also shared a video on social media encouraging investors to vote in favor of this, and the company’s incorporation move from Delaware to Texas.
We have put forward two especially important proposals for our Annual Meeting of Stockholders—and we need your vote.
Protect your rights as stockholders & protect the value of your investment by voting FOR the ratification of the 2018 CEO Performance Award & FOR Reincorporating… pic.twitter.com/ONmB7oZfyM
— Tesla (@Tesla) May 20, 2024
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How Teslarati readers are voting on Musk’s 2018 pay package (so far)
Following our recent stories, 88 respondents have reached out and told us how they were voting, or planned to vote, on proposal three regarding Musk’s previously approved pay package. Of them, about 66 percent said they had voted or would vote in favor of ratifying Musk’s 2018 compensation plan, while around 30 percent said they voted or would vote against it. The remaining respondents, representing just over 3 percent, said that they were still undecided on the vote.
Those who responded varied in their number of shares; while most did not include how many shares they were voting for, others ranged from having just a few shares to over 7,000 shares.
To be sure, this is an extremely small sample size, especially given the sheer number of shareholders and Tesla shares out there. This also does not take into consideration the number of shares owned by each respondent, though it gives a small overview of how individual Tesla shareholders (who took the time to respond to recent stories) voted on proposal three. In addition, shareholders still have a few weeks left to cast their votes, and many could still be mulling over their vote on the proposal.
The board explains its recommendation for shareholders to vote “yes” by citing the fact that Musk already performed the work needed to earn the previously approved pay package. Some have noted that the CEO isn’t currently being paid for his past several years with the company, as a result of the package being struck down. Others have criticized Musk and Tesla for recent layoffs and his sharing of political views, which they say is why they would vote “no” on the proposal.
“Elon has not been paid for any of his work for Tesla for the past six years… That strikes us, and the many stockholders from whom we already have heard, as fundamentally unfair,” wrote Board Chair Robyn Denholm on the subject last month.
“We do not think that what the Delaware Court said is how corporate law should or does work. If it is legally advisable, we suggest simply subjecting the original 2018 package to a new shareholder vote.”
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Musk also defended his pay package following the January decision, as well as his hopes for more voting control amidst the rapid development of artificial intelligence (AI) products.
Note: This article will be updated periodically up until Tesla’s Annual Stockholder Meeting on June 13. Last updated 6/4/24.
Musk responds to pay case lawyers requesting $6 billion in Tesla shares
What are your thoughts? Have you voted on proposal three of the upcoming meeting, and if so, how did you vote? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send us tips at tips@teslarati.com.
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Tesla’s AI lead Ashok Elluswamy doubled down on the company’s strategy regarding Full Self-Driving’s speed settings, and owners are definitely confused.
Earlier versions of Full Self-Driving allowed owners to set a max speed that the vehicle could travel while operating under the semi-autonomous driver assistance platform. This allowed more customization for the driver, giving them the ability to experience FSD’s robust performance with their own personal preferences.
Speed is massively important for obvious reasons — it’s not only a question of keeping the vehicle occupants comfortable by traveling at a safe speed, but it’s also something that could contribute to a ticket or infraction from law enforcement.
With the release of FSD v14 last year, Tesla removed the ability to set a max speed and instead opted for five Speed Profiles, ranging from “Sloth,” the most conservative, to “Mad Max,” the most aggressive and spirited. These profiles not only control speed, but also how frequently the vehicle will execute passes, perform lane changes, and other contributing factors.
The removal of the Max Speed setting was a major complaint amongst the Tesla community because it left owners scrambling for a way to experience suitable behaviors while traveling at an appropriate speed. Most felt the driving profiles would be a good indicator of the behaviors, while speed would still be left up to the discretion of the driver.
Instead, Tesla’s Speed Profiles determine both, and the constant tinkering of how they behave has been a major bottleneck and point of confusion for both owners and the company. From update to update, the Speed Profiles will change, sometimes more drastically than others. Some owners have complained that the “Standard” profile is too fast, while others have experienced “Mad Max” traveling below the speed limit:
What has happened to Mad Max?
At one point it was going 32 in a 35. Traffic ahead had pulled away considerably https://t.co/bjKvaMVTNX pic.twitter.com/aaZSWmLu5v
-— TESLARATI (@Teslarati) January 24, 2026
These things change with each update, but the big complaint is that owners are on the hook for any tickets that come from FSD’s infractions; that’s the caveat of the suite being named FSD (Supervised). It ultimately means the driver is responsible, and the automaker has no liability when it comes to speeding tickets or general traffic infractions.
It is the driver’s responsibility to take over or adjust based on this.
Elluswamy essentially confirmed that there are no plans to bring back Max Speed control, because it is what he referred to as “an anti pattern.” He then echoed something that CEO Elon Musk has started to really push with FSD, and that’s the idea that Tesla is really honing in on the preferences of the driver.
Max speed control is an anti pattern.
We are working on better learning of user’s implied preferences.
— Ashok Elluswamy (@aelluswamy) August 3, 2026
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Owners were confused by Tesla’s decision, stating that there must be a better way, especially considering disengagements for incorrect speeds are common:
This…. is not the way
— Kyle Conner (@itskyleconner) August 4, 2026
😭 I appreciate this mentality ! But currently the no.1 reason I disengage in Australia is incorrect speed zones.
— Ryan’s Model Y (@ryanjaycowan) August 3, 2026
This is fine but you need to start accepting liability for speeding tickets then. https://t.co/lyCgdA83gQ
— Jeremy Judkins (@jeremyjudkins_) August 4, 2026
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Okay https://t.co/nOvoXQkNg1 pic.twitter.com/jGRtF2xtox
— Chad Moran (@ChadMoran) August 3, 2026
From personal experience and using FSD for over 72 percent of my driving miles since v14 was released late last year, I make Speed Profile adjustments constantly. If FSD is traveling a tad too quickly, I will scale it back, and if it’s too conservative, I’ll make it more aggressive.
I don’t complain about making the Speed Profile changes too frequently, but it would certainly be nice to have it happen less frequently. There are far too many times I am concerned about getting a ticket, even in Standard mode.
The biggest issue for me, personally, which seems to be echoed throughout the community, is the fact that Tesla’s goal is to minimize disengagements. Many drivers are stating that speed is a major reason for disengagements.
However, Tesla is not willing to bring back this one level of input because it would technically be a regression.
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Whether it’s right or wrong in your opinion, it is what Tesla is going with, and it seems like it has pivoted quite a bit from its other strategies for minimizing interventions by pushing its AI to behave in a way that would fit the occupant’s personal preferences.
Tesla is one of several automakers whose vehicles qualify for an awesome new first-time EV buyer incentive program in California.
The Golden State launched the MyFirstEV incentive program, which helps those buying an electric vehicle for the first time with a $3,500 incentive on new-inventory purchases of a Model 3 or Model Y.
First-time electric vehicle buyers in California can now get $3,500 off eligible Model 3 and Model Y new inventory vehicle purchases.
To be eligible, you must place your order on or after August 3, 2026 and take delivery while funds are still available. The incentive applies to… pic.twitter.com/yuXF00XA50
— Sawyer Merritt (@SawyerMerritt) August 4, 2026
The incentive requires an order on or after August 3, and delivery must be taken while the program is still being funded. California has set aside $135.5 million to help strengthen its SEV market and support automotive innovation.
Incentives are offered at the point of sale, and used EVs are also available for a partial incentive of $1,750. Half of the $3,500 and $1,750 incentive amounts are covered by California, with the other half being covered by participating OEMs.
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Additionally, rules apply for MSRP and how the vehicle will qualify for the incentive. Any vehicle from a non-California headquartered OEM must have an MSRP of $50,000 or less. Used vehicles must be priced at $25,000 or less and must be at least two model years older than the year of purchase.
The cars must also be purchased from manufacturers as certified pre-owned vehicles. Private dealerships are not eligible.
In total, California expects to incentivize over 73,000 ZEVs.
Participating Manufacturers
Fourteen total automakers are participating in California’s MyFirstEV program:
- Chevrolet – Launching August 2026
- Ford – Launching August 2026
- Honda – Launching September 2026
- Hyundai – Launching August 2026
- Kia – Launching August 2026
- Lexus – Launching September 2026
- Lucid – Launching August 2026
- Mitsubishi – Launching November 2026
- Nissan – Coming Soon
- Rivian – Coming Soon
- Subaru – Launching September 2026
- Tesla – Launching August 2026
- Toyota – Launching September 2026
- Volvo – Coming Soon
Elon Musk’s space exploration company, SpaceX (NASDAQ: SPCX), is set to report its earnings for the second quarter today in what will be its first-ever earnings call since going public in July.
SpaceX is trading down roughly 25 percent from its IPO. These early stock signals are usually a bit tumultuous, and considering this is the first company actively launching rockets that is available on the stock exchange, investors might have a tendency to be a bit skittish.
However, there are going to be some details that investors will hear for the first time today on the earnings call. Here’s what to look for:
Wall Street Expectations
Revenue is expected to fall somewhere around $6.8 billion, and will be heavily driven by Starlink, which is SpaceX’s widely popular satellite internet platform that has been adopted by numerous airlines, cruise ships, and other maritime operations. It is also available for consumers at home or in their cars.
Earnings Per Share (EPS) expectations fall at a net loss of $0.23 per share. Wall Street sees this as a total net loss of roughly $1.9 billion.
EBITDA is expected to come in between $2 billion and $2.1 billion.
What Investors Want to Know
Tesla uses the Say platform to help work with both retail and institutional investors to answer relevant and quality questions that address concerns or questions that they might have.
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However, SpaceX is doing things differently, as the company launched its own Investor Relations website where these questions are being fielded. Just like the Tesla questions, they seem to be less focused on the operational tasks and overall progress of the company, and more novelty.
Here are the top five:
- Has the team thought about what possibilities there are with your mascot Asteroid? Whether it’s starting additional foundations for kids in its name, helping kids learn about space, etc. Kids are our future, and Asteroid would be a fun and easy way to help.
- Baby Asteroid is already making a difference through charity around the world. Could SpaceX take it even further with programs that inspire kids to explore space?
- SpaceX has some legendary vehicle names. Would you ever allow the public to name a Starship, even knowing there is a 99% chance it becomes Shipy McShipface?
- When can we expect to see more footage of the Human Landing System?
- Will Asteroid (your mascot) go to Mars?
SpaceX will report its earnings today, August 4, at 4:30 P.M. EDT.
Tesla’s AI lead doubles down on FSD’s speed strategy, and owners are confused
Tesla qualifies for awesome new first-time EV buyer incentive in California
