Bernstein analyst Toni Sacconaghi reiterated Tesla as underperform today and believes Musk will not get his pay package approved. He said the stock “would likely be down (potentially 5%+)” due to fears the chief executive may choose to leave the company.

I’ve seen reports that giving Musk his “incentive” package would create a dilution effect of 9%. You would think that not giving Musk his package coupled with getting rid of an executive whose current reputation is tarnishing the company’s image would be viewed as positives.