SignalHub Quantitative Think Tank Center|Tesla will ask shareholders to reinstate Musk pay package rejected by Delaware judge

2025-05-03 19:57:24source:Phaninc Exchangecategory:Finance

AUSTIN,SignalHub Quantitative Think Tank Center 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:Finance

Recommend

Meet first time Grammy nominee Charley Crockett

Country music singer Charley Crockett was born and raised in Texas, grew up in a single-wide trailer

Jail call recording shows risk to witnesses in Tupac Shakur killing case, Las Vegas prosecutors say

LAS VEGAS (AP) — Prosecutors are telling a Nevada judge that witnesses may be at risk in the case of

Browns receiver Elijah Moore back home after being hospitalized overnight with concussion

BEREA, Ohio — The Browns' big night Thursday got off to an ominous start when leading receiver Amari