[kassah]

I think something really important here, is that it has been agreed that Elon Musk is not to be more than 14.9% beneficial owner of the companies common stock. I'm not a lawyer, but this also looks like a tactic saying "Let's give Elon a voice on the board so he doesn't buy controlling interest in the company."

Elon is being forced (or heavily incentivized at least) to liquify Tesla stocks, so he's going to be looking for alternate places to put that money to avoid the consequences of holding on to liquid capital, this limits him from putting too much of it into Twitter, and being more than just a board member.

Gives stockholders & existing board members what they want (retaining control of the business, and makes it harder for Elon to build a competitor), while giving Elon what he wants (influence in the business). This sounds like a win-win.