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Tesla will ask shareholders to reinstate voided $56 billion stock grant for Elon Musk [MSNBC.com]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
Teslarecord-setting compensation dealThe company announced the move in a preliminary proxy filing Wednesday, just days after the company told employees it wouldcut its headcount by 10%Tesla said the court decision created a "fundamental problem for the company." As a result, Tesla also plans to ask shareholders to let the company move its state of incorporation from Delaware to Texas, something Musk had threatened to do in the aftermath of the unfavorable court ruling.The two proposals are likely to be fiercely controversial. Tesla has hired a proxy solicitor, Innisfree M&A, and plans to spend an undetermined amount, in the millions, to help secure the votes for the two proposals, according to the filing.Tesla has not hired Innisfree since 2018, when it first asked shareholders to vote on Musk's pay package. Companies often only advertise the cost of proxy solicitations when major proposals or proxy fights are expected. (Innisfree was alsosuing Musk's TwitterMusk's pay package was inv
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