Member LoginMember Login - User registration - Setup as front page - Add to favorites - Sitemap Tesla asks shareholders to reinstate Elon Musk's $55 billion pay package !

Tesla asks shareholders to reinstate Elon Musk's $55 billion pay package

Time:2024-05-08 00:20:41 source:Universal Unfoldings news portal

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.

Related information
  • No, France did not deploy troops to fight with Ukraine against Russia
  • New BYU basketball coach Kevin Young focused on building NBA pipeline with Cougars
  • Who came up with that? The designers behind these baffling fails should definitely get the sack
  • Bryce Miller and 3 relievers combine on a 1
  • Stock market today: Asian shares mostly gain after tech shares lead Wall St higher
  • Will Smith wishes his 'ride or die' pal and Bad Boys co
  • Kim Kardashian credits North West, 10, for taking her sultry vacation pictures  in Turks and Caicos
  • Wednesday adds Steve Buscemi to highly
Recommended content
  • Turkey formally opens another former Byzantine
  • Inside Victoria Beckham's extensive wardrobe as she turns 50: From multi
  • How major US stock indexes fared Wednesday, 4/17/2024
  • Vogue Williams debuts her new cropped hairdo
  • Rise of David Lloyd's 'two
  • How major US stock indexes fared Wednesday, 4/17/2024