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
Tesla shareholders voted Thursday to restore CEO Elon Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the world's largest electric vehicle maker. The favorable vote, in which Tesla officials said about 77% of shareholders sided with Musk, doesn’t necessarily mean that Musk will get the all-stock compensation anytime soon.
” John Lawrence, a Dallas-based lawyer with Baker Botts who defends corporations against shareholder lawsuits, agreed the vote doesn’t end the legal dispute and automatically give Musk the stock options. But he says it gives Tesla a strong argument to get the ruling overturned. He expects Musk and Tesla to argue that shareholders were fully informed before the latest votes, so McCormick should reverse her decision.
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