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Tesla asks shareholders reinstate Elon Musk's pay, move to Texas [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
Tesla shareholders voted to approve Musk's pay package in 2018, but a Delaware judge voided it in January, siding with investors that sued to challenge the compensation package, which is the largest ever for a U.S. executive. The compensation includes no salary or cash bonus, but sets rewards based on Tesla's market value rising to as much as $650 billion over the next 10 years. Tesla is now valued at around $500 billion. Musk previously vowed that this vote was coming. TESLA TO LAY OFF MORE THAN 10% OF WORKFORCE After Delaware Judge Kathaleen McCormick tossed Musk's share-based pay package, ruling that the "unfathomable sum" was unfair to shareholders and negotiated by directors who appeared beholden to Musk, the Tesla CEO wrote on X, "Never incorporate your company in the state of Delaware." READ ON THE FOX BUSINESS APP In a follow-up post on X, Musk polled the platform's users, asking, "Should Tesla change its state of incorporation to Texas, home of its physical headq
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- Why Tesla Stock Flopped 5% on Tuesday [Yahoo! Finance][Yahoo! Finance]
- Musk deepens ‘hardcore' job cuts at Tesla [Yahoo! Finance][Yahoo! Finance]
- Musk's China jaunt keeps underwhelming status quo [Reuters][Reuters]
- Tesla to cut hundreds more jobs in Musk cost push: report [Yahoo! Finance][Yahoo! Finance]
- Elon Musk guts Tesla's charging team after winning over major automakers [TechCrunch][TechCrunch]
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