Tesla wants shareholders to reinstate $56 billion pay package for Musk rejected by Delaware judge

==========

Tesla will ask shareholders to reinstate a $56 billion compensation package for CEO Elon Musk that was rejected by a judge in Delaware this year and to move the electric car maker’s corporate home from Delaware to Texas. 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 about $55.8 billion over 10 years starting in 2018. Musk has already moved his privately held brain implant company, Neuralink, from Delaware to Nevada. Tesla's board wrote that if there is any significant vote against future executive pay packages, 'we will consider our stockholders' concerns, and the compensation committee will evaluate whether any actions are necessary to address those concerns.'

#Tesla #ElonMusk #CompensationPackage #Shareholders #Delaware #Texas

https://finance.yahoo.com/news/tesla-ask-shareholders-reinstate-pay-112125905.html