Tesla asks shareholders to reinstate Elon Musk's $55 billion pay package
Time:2024-05-21 15:49:48 Source:opinionsViews(143)
DETROIT (AP) — Tesla will ask shareholders to reinstate a $56 billion compensation package for CEO Elon Musk that was rejected by a judge in Delaware this year, and to move the electric car maker’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 on June 13.
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 about $55.8 billion over 10 years starting in 2018.
Five years ago, a Tesla shareholder lawsuit alleged that the pay package should be voided because it was dictated by Musk and was the product of sham negotiations with directors who were not independent of him.
Previous:Supreme Court rejects an appeal from a Canadian man once held at Guantanamo
Next:Amtrak train hits pickup truck in upstate New York, 3 dead including child
You may also like
- Britain's new bonkers EV: Callum Skye is an £80k electric buggy built in Warwickshire
- Ten stocks to invest in NOW to profit from Rishi's defence spending boost
- Steelers bolster offensive line, take Troy Fautanu from Washington with 20th pick in NFL draft
- Rooting for Trump to fail has made his stock shorters millions
- Iran helicopter crash that killed President Raisi could reverberate across the Middle East
- Miami Dolphins bolster pass rush, taking Chop Robinson of Penn State with 21st pick of NFL draft
- Growing public debt burden, shrinking fiscal space leave Africa at crossroads: UNECA
- Stephen Curry wins NBA's Clutch Player of the Year, adding to his trophy collection
- What a blast to work at NASA. Space agency is sky