Tesla will ask shareholders to reinstate the compensation package for CEO Elon Musk that was rejected by a judge in Delaware this year.
Tesla will ask shareholders to reinstate a $55-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 a filing with federal regulators early Wednesday, the company said it would ask shareholders to vote on both issues during its annual meeting on June 13. In January, Chancellor Kathaleen St.
” Tesla posted record deliveries of more than 1.8 million electric vehicles worldwide in 2023, according to a regulatory filing. But the value of its shares has eroded quickly this year as sales of electric vehicles soften. Future growth is in doubt and it may be a challenge to get shareholders to back a fat pay package in an environment in which competition has increased worldwide and demand for electric vehicle sales is fading.
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