Since a Delaware court voided Elon Musk's $56 billion package in February, Tesla’s board has called it back for a shareholder vote and put its full endorsement behind it.
The outcome will have significant implications not just for Musk’s fortunes but for the future of Tesla, which has been reeling from weak sales, global competition and mass layoffs.
Tesla shares spiked 3.5% in early trading on Thursday after CEO Elon Musk signaled that shareholders would overwhelmingly approve his controversial $56 billion pay package, as well as his plan to relocate the company’s legal headquarters to Texas.
Tesla shareholders voted to reinstate CEO Elon Musk's $56 billion pay package that had been voided by a Delaware judge and also approved the reincorporation of the company in Texas.
Tesla shareholders voted in favor of a compensation package for CEO Elon Musk, endorsing the potential windfall after a Delaware court invalidated it, a company official said Thursday
Tesla shareholders are voting to approve a $56 billion pay package for Elon Musk and to move the electric vehicle maker's legal home to Texas, Musk said on social media platform X on Wednesday, adding that passage was by wide margins.
Tesla CEO Elon Musk announced that shareholders are voting to approve his $56 billion pay package and the company's reincorporation in Texas from Delaware.
Chancellor Kathaleen St. Jude McCormick ruled in January in a shareholder’s lawsuit that Musk essentially controlled the Tesla board when it ratified the package in 2018.
Results of the vote are due later today. Tesla shareholders are deciding on Musk's $56 billion pay package and a proposal to incorporate the EV giant in Texas.
DETROIT (AP) — Tesla shareholders are charting the future of the electric vehicle company Thursday as they wrap up voting whether or not to restore CEO Elon Musk’s massive pay package that was thrown
Tesla CEO Elon Musk said late Wednesday that the electric vehicle company's shareholders were voting to approve his multibillion-dollar pay package by "wide margins" before the ballot had been concluded.
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Elon Musk wins back his $44.9B Tesla pay package in shareholder vote | Since Then