Musk Pay Draws More Pushback as Glass Lewis Urges ‘No’ Vote (1)

Tesla Inc. shareholders are being urged by a second major proxy adviser to vote against Chief Executive Officer Elon Musk’s $1 trillion compensation package, adding to potential hurdles as the carmaker’s board works to secure investor support.

Glass Lewis & Co. said the potential dilution to shareholders and other terms of the proposed pay plan “warrant significant concern.” The firm made the recommendation as part of wider voter guidance issued ahead of Tesla’s annual shareholders meeting on Nov. 6.

The report echoed recommendations from proxy firm Insitutional Shareholder Services that urged shareholders to vote against the pay plan. Proxy ...