Why the Board Calls It Retention Pay

Tesla shareholders vote on November 6 on a performance award for Elon Musk that could be worth up to $1 trillion. I break down what the plan pays for, why the board says Tesla risks losing Musk if it fails, where CalPERS and ISS land, and how ownership and autonomy targets shape the outcome. Sources include Reuters, the Financial Times, and new statements from CalPERS ahead of the Austin meeting.