In the weeks leading up to the vote, Tesla’s board said approving the pay package was necessary to keep Musk motivated and prevent him from getting sidetracked by the myriad of other companies he owns. The original compensation package was challenged in 2018 by Tesla shareholder Richard Tornetta...
Earlier in the day, Musk had commented confidently that shareholders were expected to approve his substantial pay deal by “wide margins.” The vote results confirmed his prediction, marking a crucial win in Musk’s long-running effort to secure this unprecedented compensation package. This pushed ...
In a proxy filing out Wednesday,Tesla asked shareholdersto approve a CEO pay package for Musk that’s equivalent to the record compensation plan the company previously granted him in 2018. His earlier CEO pay plan, worth $56 billion, was voided in a ruling by Delaware Chancery Court Judge ...
The bombshell, 200-page Delawarecourtruling Tuesday orderingTeslato undo its massive$56 billion compensation packagefor CEOElon Muskfeatures descriptions of a lawyer holding back tears, references to “Frankenstein,” Shakespeare and “Star Trek,” and a cringey self-driving car pun. And then there...
Tesla has campaigned to persuade shareholders to approve Musk's giant compensation package. The company said on an annual meeting website that the "future value we are poised to deliver for you is at risk," adding, "We need your vote NOW to protect Tesla and your ...
On June 13th, Tesla shareholders will decide the fate of Musk’s compensation package, which is estimated to be worth as much as $56 billion. It will be thesecond timethat shareholders will vote on the CEO’s pay, aftera Delaware judge voided the first oneearlier this year on the ...
Ms McCormick concluded that the only suitable remedy was for Mr Musk's compensation package to be rescinded. "In the final analysis, Musk launched a self-driving process, recalibrating the speed and direction along the way as he saw fit," she wrote. "The process arrived at an unfair price...
File - Tesla CEO Elon Musk waves as he arrives at the annual political festival Atreju, organized by the Giorgia Meloni’s Brothers of Italy political party, in Rome, Dec. 16, 2023. A judge says Elon Musk must give up a compensation package awarded by Tesla’s board of directors t...
Musk's compensation package, which is believed to be the largest of any CEO of a publicly traded company in the U.S., was voided by a Delaware judge after finding that Tesla's board didn't adequately disclose its members' relationships to Musk and that the company was on pace to achieve...
Elon Musk seemingly welcomed the idea of a new performance-based compensation plan for his work as Chief Executive Officer (CEO) at Tesla.