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

2025-05-02 22:34:15source:Evander Elliscategory:Finance

AUSTIN,HAI Community 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:Finance

Recommend

Bill Belichick's salary at North Carolina: School releases football coach's contract details

The University of North Carolina has agreed to pay new football coach Bill Belichick $10 million a y

NFL roster cut deadline winners, losers: Tough breaks for notable names

The NFL’s annual mass sacrifice is complete – Tuesday afternoon being the deadline for all 32 of the

After diversity pushback, some faculty feel left in dark at North Carolina’s flagship university

RALEIGH, N.C. (AP) — Keely Muscatell always told prospective students they could study anything they