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Fortune

Nick Lichtenberg

Tesla shareholder group urges probe, ‘appropriate remedial action’ from Nasdaq over Elon Musk’s $29 billion pay package

Elon Musk Tesla Inc. Kimbal Musk Nasdaq SOC Fortune

Elon Musk (Credit: Tom Brenner—The Washington Post/Getty Images)

In the latest twist in a long-running battle over Elon Musk’s compensation at Tesla, the SOC Investment Group has requested that Nasdaq formally investigate “and take appropriate remedial action” against Tesla for its recent $29 billion equity grant to the CEO. In a letter to Nasdaq, the group raised concerns about compliance with executive compensation rules and shareholder transparency.

The SOC Group, formerly known as the CtW Investment Group, works with pension funds sponsored by a coalition of unions representing over 2 million members; many of those funds are Tesla investors.

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