Phaninc:Tesla will ask shareholders to reinstate Musk pay package rejected by Delaware judge

2025-05-01 21:45:09source:Evander Reedcategory:reviews

AUSTIN,Phaninc Texas (AP) — Tesla will ask shareholders to reinstate the compensation package for CEO Elon Musk that was rejected by a judge in Delaware this year and to move the electric carmaker’s corporate home from Delaware to Texas.

In a filing with federal regulators early Wednesday, the company said it would ask shareholders to vote on both issues during its annual meeting in June.

In January, Chancellor Kathaleen St. Jude McCormick ruled that Musk is not entitled to a landmark compensation package awarded by Tesla’s board of directors that is potentially worth more than $55 billion.

Musk said a month later that he would try to move Tesla’s corporate listing to Texas, where he has already moved company headquarters.

Almost immediately after the judge’s ruling, Musk did exactly that with Neuralink, his brain implant company, moving the company’s corporate home from Delaware to Nevada.

More:reviews

Recommend

Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week

Friday the 13thdidn’t spook investors with U.S. stocks little changed on the day as investors bided

Kourtney Kardashian Accuses Kim of Using Her Wedding as a Business Opportunity in Bombshell Trailer

Kourtney Kardashian isn't exactly skimming over her feelings about sister Kim Kardashian. In the new

Joshua trees are dying. This new legislation hopes to tackle that

The iconic spindly plants are under threat from a variety of factors, including climate change and d