(Reuters) – Institutional Shareholder Services recommended investors vote against ratifying Tesla (NASDAQ:) CEO Elon Musk’s pay plan at the electric vehicle maker’s annual meeting on June 13, calling the compensation amount “excessive.”
In a report sent by a spokesman late Thursday, the trusted adviser also recommended voting against Tesla CEO James Murdoch, but recommended voting for CEO Kimbal Musk and the company’s proposal to change its state of incorporation to Texas from Delaware.