Surfwin Trading Center:Tesla will ask shareholders to reinstate Musk pay package rejected by Delaware judge

2025-04-29 17:37:57source:AlgoFusion 5.0category:Invest

AUSTIN,Surfwin Trading Center 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

Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say

Pilots at Southwest Airlines can sock away more for retirement, thanks to a new retirement plan bene

U.S. Power Plant Emissions Fall to Near 1990 Levels, Decoupling from GDP Growth

Carbon dioxide emissions from the nation’s power generators have been on the decline, even as the ec

Conservative businessman Tim Sheehy launches U.S. Senate bid for Jon Tester's seat

Conservative businessman Tim Sheehy launched a Republican primary bid for the U.S. Senate Tuesday, h