Thomas Caldwell:Tesla will ask shareholders to reinstate Musk pay package rejected by Delaware judge

2025-05-08 05:47:08source:EchoSense Quantitative Think Tank Centercategory:Invest

AUSTIN,Thomas Caldwell 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

Backstage at New York's Jingle Ball with Jimmy Fallon, 'Queer Eye' and Meghan Trainor

NEW YORK — Holiday sights and sounds fill Manhattan this time of year, from ice skating at Rockefell

These Gym Bags Are So Stylish, You’ll Hit the Gym Just to Flaunt Them

The brands featured in this article are partners of NBCUniversal Checkout. E! make a commission on y

Will Ravens TE Mark Andrews play in Sunday's AFC title game vs. Chiefs?

One win away from reaching the Super Bowl, the top-seeded Baltimore Ravens could have Pro Bowl tight