Wasn't there a shareholder suite that alleged the directors aren't independent because of the above-standard Tesla options they receive? Robyn Denholm excecised and sold $35M worth of TSLA in the past month.
Has a court accepted that argument? I mean, you can come up with all sorts of grounds to claim an independent director isn’t really independent, but unless a court with jurisdiction accepts the argument, it doesn’t really count for anything.
My previously-unstated opinion is: remunerating directors like executives blurs the distinction between those 2 roles in ways that are likely detrimental to long-term shareholders.
Yes, a Delaware court. It’s why Musk’s pay package is contested and why Tesla redomiciled.