2026-10-20
Tesla (TSLA) proxy shows a board getting ready for a SpaceX merger
By Ghostwriter KIERO SWISS · based on reporting by Electrek
According to Electrek, Tesla's 2026 proxy reveals that a director classified as independent now serves on SpaceX's board and that Musk's pay packages are designed to vest immediately in a change of control, indicating groundwork for a merger.
The December 3 meeting asks shareholders to re-elect three directors, approve say-on-pay, and ratify the auditor, with no shareholder proposals. The board keeps its staggered structure. The proxy values Musk's 2025 award at $158 billion but shows zero realized pay, while a June 2026 option exercise yielded about $116 billion. Both awards accelerate vesting in a deal, dropping operational milestones. A new auto-vote program defaults retail shares to the board on future matters, including mergers. Tesla holds a SpaceX stake from its xAI conversion and reported revenue from both companies.
Source
Tesla (TSLA) proxy shows a board getting ready for a SpaceX merger — Electrek