04:29 PM EDT, 05/20/2024 (MT Newswires) -- Tesla (TSLA) Chief Executive Elon Musk's lucrative pay package is again being challenged, this time by an activist shareholder group that also says the board of directors at the electric automaker lacks independence.

In particular, the SOC Investment Group chided two board members - Kimbal Musk, the CEO's brother, and longtime friend James Murdock - for lacking "the level of critical and independent thinking required for effective governance," according to a regulatory filing by the group on Monday.

The investor group has asked shareholders to not vote for the two directors' reelection at the upcoming annual meeting.

SOC also said Musk and Murdock, along with several other people listed as independent directors on the board are "potentially compromised by the wealth they have accumulated."

A Delaware court earlier this year threw out the pay package approved in 2018 for Musk as excessive, only to see a special board committee recently reapproving it. SOC asked shareholders to vote down reinstatement of Musk's pay package.

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