Tesla asks shareholders to reinstate Elon Musk's $55 billion pay package
Time:2024-05-21 15:45:25 Source:travelViews(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:Siblings trying to make US water polo teams for Paris Olympics
Next:Burglar hurled stolen mobile phones at police from the top of 60ft high roof during nine
You may also like
- Who is Jacob Zuma, the former South African president disqualified from next week's election?
- 185th Australia Day Regatta held in Sydney
- China's women's football team reach Tokyo Olympics with extra
- 195 mln trips made through China's railways from Sep 27 to Oct 8
- French sports minister calls for sanctions after Monaco player tapes over anti
- Highlights of women's artistic gymnastics qualification at Tokyo 2020 Olympic Games
- Xi Focus: Xi Stresses Youth, Solidarity, Inclusiveness in Vision for Shared Future
- Malaysia's visa
- Four people killed in a house explosion in southwestern Missouri