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

2025-05-07 15:17:21source:Quaxscategory:Invest

AUSTIN,SafeX Pro 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:Invest

Recommend

This week on "Sunday Morning" (December 15)

The Emmy Award-winning "CBS News Sunday Morning" is broadcast on CBS Sundays beginning at 9:00 a.m.

'Super fog' causes multi-car pileup on Louisiana highway: Police

A "super fog" in Louisiana has caused a multi-car pileup on Interstate 55 near New Orleans, Louisian

Leading in early results, Machado claims win in Venezuelan opposition’s presidential primary

CARACAS, Venezuela (AP) — Early returns in the Venezuelan opposition’s presidential primary gave a b