Tesla will ask shareholders to reinstate pay package rejected by Delaware judge
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
By AP News
Published - Apr 17, 2024, 07:24 AM ET
Last Updated - Apr 17, 2024, 07:24 AM EDT
AUSTIN, 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 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.
