- July 7, 2021
- Posted by: Stratford Team
- Category: Business
Andrew Left on Nikola, Trevor Milton
BERKELEY, California – Shareholders of Nikola Corp have voted against a proposal to approve the compensation paid to its “named executive officers,” including $159.2 million to founder and former executive chairman Trevor R. Milton, the electric truck maker said on Tuesday.
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The decision, although non-binding, illustrates shareholders’ discontent about Nikola, once a high-flying company whose shares tanked over 80% from its peak partly due to ongoing probes by regulators and prosecutors.
The compensation, which includes salary, bonus and stock awards, was proposed to a total of six people, including chief executive officer and president Mark Russell with $159.2 million and Britton Worthen, chief legal officer with $79.6 million. The shareholders’ meeting took place on June 30.
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