While Tesla shareholders will vote on whether they think Elon Musk should get his mammoth pay package, the courts will have the final say.
Tesla shareholders on Thursday will get to vote on whether they think CEO Elon Musk should receive the historic pay package he was granted in 2018.
Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X speaks during the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 6, 2024.annual meeting on Thursday in Austin, Texas, will feature a final vote on a contentious proposal asking shareholders to "ratify the 100% performance-based stock option award tothe Tesla CEO's compensation package to be rescinded.
"Some people apparently believe that a vote in favor will settle the legal disputes," Lipton told CNBC in an email. "It won't. It will make them more complicated." By contrast, Tesla said in an April proxy filing that it's heard from several institutional shareholders who disagreed with the court's decision, and indicated they would support a vote to reinstate Musk's pay package.
In addition to the pay package vote, Tesla shareholders will also decide whether the company should move the site of incorporation out of Delaware, where most large publicly traded companies are incorporated, and into Texas, home to Tesla's largest U.S. factory.
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