Tesla’s board is set to vote on CEO Elon Musk’s $1 trillion pay package as major proxy adviser firms urge shareholders to reject the deal.
The vote is scheduled for Thursday and will determine whether Musk secures what is the largest compensation package in corporate history.
Proxy firms Glass Lewis and Institutional Shareholder Services have both recommended that investors vote against the package. These firms often influence large passive funds that hold significant stakes in the electric carmaker.
Tesla has faced mounting challenges this year, with global sales declining and investor confidence wavering.
In July, Tesla reported a 13.5 percent decline in sales in the United States.
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