08:25 AM EDT, 06/03/2024 (MT Newswires) -- Tesla (TSLA) on Monday defended chief executive officer Elon Musk's pay raise against top proxy advisory firm Institutional Shareholder Services' objections, citing Musk's achievement of creating over $735 billion in market value for stockholders.

Tesla emphasized in a regulatory filing that Musk met the challenging targets of the 2018 CEO Performance Award in under six years.

ISS objected that "the total award value remains excessive, even given the company's success."

Shares of Tesla were up 0.2% in recent Monday premarket activity.

Price: 178.51, Change: +0.43, Percent Change: +0.24