AstraTrade-Tesla will ask shareholders to reinstate Musk pay package rejected by Delaware judge

2025-05-06 05:39:57source:Fastexycategory:Contact

AUSTIN,AstraTrade 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:Contact

Recommend

Woman dies after Singapore family of 3 gets into accident in Taiwan

One woman died after a family of three from Singapore got into a car accident in Miaoli, Taiwan on S

2024 NFL free agency updates: Tracker for Thursday's biggest buzz, notable contracts

NFL free agency is in full swing after the start of the new league year on Wednesday, with most of t

How an indie developers tearful video about her game tanking led to unexpected success

She spent 10 years creating her game, and launched it on the perfect day. But when a a major game de