Chainkeen|Tesla will ask shareholders to reinstate Musk pay package rejected by Delaware judge

2025-05-03 04:14:42source:Evander Elliscategory:Scams

AUSTIN,Chainkeen 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:Scams

Recommend

New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health

SANTA FE, N.M. (AP) — New Mexico would make major new investments in early childhood education, indu

Dive teams recover bodies of 2 men who jumped off a boat into a Connecticut lake on Monday night

DANBURY, Conn. (AP) — The bodies of two men who were last seen Monday night jumping off a boat into

Gas prices are a favorite RNC talking point. Here's how they changed under Trump, Biden

Republican leaders from around the country have taken the stage in Milwaukee this week, praising the