Tesla Shareholders Asked To Restore Musk’s $56B Pay

April 17, 2024 Business, Crackpots

Ars Technica reports:

Tesla is asking shareholders to approve a move to Texas and to re-approve a $55.8 billion pay package for CEO Elon Musk that was recently voided by a Delaware judge.

Musk’s 2018 pay package was voided in a ruling by Delaware Court of Chancery Judge Kathaleen McCormick, who found that the deal was unfair to shareholders.

After the ruling, Musk said he would seek a shareholder vote on transferring Tesla’s state of incorporation from Delaware to Texas.

Read the full article.

Tesla asks shareholders to approve Texas move and restore Elon Musk’s $56B pay https://t.co/n7Nw9K3a4j

— Ars Technica (@arstechnica) April 17, 2024