Tuesday, June 11, 2019

Tesla annual meeting: what proposals shareholders will consider - Business Insider

Tesla annual meeting: what proposals shareholders will consider - Business Insider


Tesla annual meeting: what proposals shareholders will consider - Business Insider

Posted: 10 Jun 2019 01:11 PM PDT

Tesla's directors have nominated Ira Ehrenpreis, the second-longest serving board member after Kimbal Musk, and Kathleen Wilson-Thompson for re-election to the board. If re-elected, which is likely, they will serve for three years, as is the board's current structure. However, if a proposal to reduce director terms to two years is successful, they will serve the shorter amount of time.

A major shareholder advisory service is urging investors to vote against the nomination of Ehrenpreis, due to Tesla's skyrocketing equity awards.

"Tesla does not have traditional incentive programs and, while no NEOs received bonuses in 2018, equity awards are sizable and lack performance vesting conditions,' Institutional Shareholder Services, or ISS, said in a May report.

"Investors increasingly expect at least a meaningful portion of long-term incentives be tied to pre-set, disclosed forward-looking performance goals. Concerns are also raised regarding the magnitude of grants to other NEOs, as all but one of the NEOs received 2018 pay in excess of the median CEO in the ISS-selected peer group."

"While these concerns would normally warrant an adverse recommendation for the advisory compensation proposal, the company has adopted a triennial say-on-pay frequency and will not present the proposal again until 2020," ISS continued. "In the absence of a say-on-pay proposal on the ballot, shareholders are advised to vote against compensation committee member Ira Ehrenpreis."

Glass-Lewis, the other major proxy advisor, does not have the same concerns about Ehrenpreis' re-election and recommends a "for" vote on the proposal. Tesla's board of directors also recommends a "for" vote.

Both Tesla and the proxy advisors recommend director Kathleen Wilson-Thompson for re-election.

U.S. State Department Expresses 'Grave Concern' Over Hong Kong Extradition Proposal - TIME

Posted: 10 Jun 2019 04:15 PM PDT

The U.S. State Department expressed "grave concern" over a proposed law in Hong Kong that would allow extraditions to mainland China, warning that the move could further undermine the city's freedoms and damage its business environment.

The proposal, under debate in Hong Kong's legislature, "could undermine Hong Kong's autonomy and negatively impact the territory's long-standing protections of human rights, fundamental freedoms and democratic values," State Department spokeswoman Morgan Ortagus told reporters on Monday.

Ortagus spoke after opposition to the proposal sparked one of the biggest protests Hong Kong has seen since 1997, with organizers reporting more than 1 million people turning out on Sunday to demand the plan be abandoned. Police put the figure at 240,000. If the proposal is passed, it could for the first time mean that by law Hong Kong residents might face justice in Chinese courts.

The proposed change "could damage Hong Kong's business environment" and subject U.S. citizens to "China's capricious judicial system," Ortagus said. She highlighted what she called the continued erosion of Hong Kong's "one country, two systems" framework, under which citizens are guaranteed rights not afforded to mainland Chinese citizens.

Hong Kong's Beijing-backed leader, Carrie Lam, defended the bill in a news briefing earlier on Monday, saying it was necessary to prevent the city from becoming a "haven" for fugitives and vowing to press ahead with its passage. China endorsed her government's efforts later in the day.

Contact us at editors@time.com.

It was too late: Faf on de Villiers WC proposal - Business Standard

Posted: 10 Jun 2019 08:38 PM PDT

has revealed that the last minute offer made by to return to the national side for the ongoing was too late to consider.

Speaking after Monday's washout game against West Indies, du revealed that he and de Villiers had shared a phone call in the last edition of the (IPL) in which the latter told him about his thoughts of willing to play in

"It was just a conversation, a phone call the night before the team got announced," the official website of the quoted du as saying. "It was just a 'this is what I'm feeling' (phone call).

"I said to him, 'I think it is too late but I will check in with the and the selectors the next morning'. When I spoke to the and the selectors, they all agreed that it was way, way too late to change the team on 99.99."

ESPNcricinfo revealed last week that offer was made by de Villiers in May, just a day before selectors announced their final 15-member squad for the prestigious quadrennial event.

It was reported that de Villiers had approached du Plessis, head and convenor of selectors Linda Zondi, where he expressed his desire to reverse his retirement and play for the team in However, the team management declined his offer.

The revelation came at a time after lost their first three matches of the ongoing showpiece event.

When asked whether the furore had impacted his side negatively, the Proteas said, "I think a little bit of both. We do feel like the news came in and like went through the team. It didn't have a huge impact.

"There was just a discussion on clarity and on making sure everyone knows what's going on and then it was moving on. The team was happy to get on with business. But it is stuff like that generally you feel like it can make you, give you direction in your team and give you purpose to focus on what lies ahead," he added.

South Africa have managed just one point from the four matches they have played so far and are currently languishing at the bottom of the points table, just above whom they will play next on Saturday in

--IANS

aak/ksk

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 11 2019. 09:08 IST

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