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

2025-05-06 08:49:48source:SignalHub Quantitative Think Tank Centercategory:News

AUSTIN,Kacper Sobieski 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:News

Recommend

NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line

The NFL playoff drive is hitting high gear, Week 15 marking the return to action of all 32 teams – w

Cher is 'proud' of boyfriend Alexander 'A.E.' Edwards after reported fight with Travis Scott

Cher is defending her boyfriend Alexander "A.E." Edwards after he allegedly got in a scuffle with Tr

Taylor Swift breaks attendance record for female artist in Lyon, France

Taylor Swift broke an attendance record in Lyon, France, with her sold-out Eras Tour."This is overal