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Tesla will ask shareholders to vote again on Elon Musk's mammoth $47 billion pay package months after it was voided in court [Business Insider]
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A statement filed with the SEC Wednesday says Musk hasn't been paid for his work at Tesla in six years. Tesla will ask shareholders to vote again on Elon Musk 's enormous pay package, which was previously overturned by a court. The carmaker announced its plans for another vote in a proxy statement filed with the Securities and Exchange Commission on Wednesday. "Because the Delaware Court second-guessed your decision, Elon has not been paid for any of his work for Tesla for the past six years that has helped to generate significant growth and stockholder value," the proxy statement reads. It adds: "That strikes us — and the many stockholders from whom we already have heard — as fundamentally unfair, and inconsistent with the will of the stockholders who voted for it." Tesla said that when 73% of shareholders voted for the pay package in 2018, it was a "big risk" targeting "unprecedented growth." But in January, a Delaware judge sided with a Tesla shareholder who argued in
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