Judge Won’t Reinstate Musk’s $56B Tesla Pay Package

NBC News reports:

Tesla CEO Elon Musk lost his bid to get his 2018 CEO pay package reinstated on Monday when a Delaware judge upheld her prior ruling that the compensation plan was improperly granted.

The package, worth about $56 billion, was the largest compensation plan in U.S. history for a public company executive.

Musk attorneys attempted to sway the judge in the Delaware business court after the trial to reverse her opinion rescinding the CEO’s pay plan. Tesla had conducted a shareholder vote to “ratify” Musk’s 2018 pay plan at the EV maker’s annual shareholder meeting in Austin, Texas, in June.

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Tesla CEO Elon Musk loses bid to get $56 billion pay package reinstated https://t.co/5oaz9m55ik

— CNBC Tech (@CNBCtech) December 2, 2024