Elon Musk’s $55 billion pay package atTeslawas struck down by a U.S. judge after a shareholder challenged it as excessive, a ruling that takes a giant bite out of Musk’s wealth. Get FREE access now! Subscribe and get access to articles, videos, and more. ...
McCormick determined, however, that because Musk was a controlling shareholder with a potential conflict of interest, the pay package must be subject to a more rigorous standard. “The process leading to the approval of Musk’s compensation plan was deeply flawed,” McCormick wrote in the c...
Updated on: December 2, 2024 / 6:06 PM EST/ CBS News Elon Musk's efforts to get his massive $56 billion 2018 Tesla pay package reinstated wasrejectedby a Delaware judge on Monday. The decision, issued by Delaware Chancery Court Judge Kathaleen St. J. McCormick, comes after a ...
Elon Musk lost his bid to have his $56 billion 2018 pay package reinstated. A Delaware judge upheld her January ruling in a case brought by shareholders that said the process leading to approval of the pay package was "deeply flawed." In June, Tesla took a vote...
For instance, with Tesla shareholders approving the move to Texas, reapproval of the pay package could now be handled as a Texas corporation, which means the issue could fall under the purview of Texas courts. Why does the pay package need to be voted on? The vote on Musk's payout stem...
McCormick, once again, will have the final say on what happens with the money and whether it will be awarded to Musk. She will also weigh the request by lawyers of the shareholder who sued Musk for the pay package of$1 billion in legal fees in either cash or stock. ...
Tesla shareholders have voted to restore CEO Elon Musk’s record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year.
"the current board can't negotiate a new pay package for musk because they've already been ruled non-independent. they need an independent board of directors and they're gonna need to sweep out at least three or four directors to really find independent ...
Tesla is asking shareholders to vote again on a $56 billion pay package for CEO Elon Musk. This comes after the company announced layoffs that would impact its global workforce. Javier E. David, CBS News contributor Javier David has more.Apr 18, 2024 ...
Tesla results disappoint but Musk touts coming robots and ‘cybercabs’ Optimism contrasts with disclosure of its first annual decline in EV sales in more than a decade January 28 2025 Musk clashed with Tangen over Norway oil fund’s vote against Tesla pay ...