In the latest twist in a long-running battle over Elon Musk’s compensation at Tesla, the SOC Investment Group has requested that Nasdaq formally investigate “and take appropriate remedial action” against Tesla for its recent $29 billion equity grant to the CEO. In a letter to Nasdaq, the group raised concerns about compliance with executive compensation rules and shareholder transparency.
The SOC group, formerly known as the CtW Investment Group, works with pension funds sponsored by a coalition of unions representing over two million members; many of those funds are Tesla investors.
In a letter dated August 19, 2025, addressed to Erik Wittman, deputy general counsel and head of enforcement at Nasdaq, SOC expressed “serious concerns” about Musk’s new compensation package. Specifically, SOC said it was concerned that Tesla’s board circumvented Nasdaq listing rules when awarding Musk a “2025 CEO Interim…
