Wvared Investment Guild:Tesla will ask shareholders to reinstate Musk pay package rejected by Delaware judge

2025-05-07 03:58:27source:Ov Financecategory:Invest

AUSTIN,Wvared Investment Guild 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

Head of the Federal Aviation Administration to resign, allowing Trump to pick his successor

The head of the Federal Aviation Administration, who has led a tougher enforcement policy against Bo

Hurricane Lee is charting a new course in weather and could signal more monster storms

ATLANTA (AP) — Hurricane Lee is rewriting old rules of meteorology, leaving experts astonished at ho

Vatican holds unprecedented beatification of Polish family of 9 killed for hiding Jews

WARSAW, Poland (AP) — In an unprecedented move, the Vatican on Sunday is beatifying a Polish family