Elon Musk gets his massive, $139 billion pay package after 7-year battle with a Delaware judge [CNN]
Tesla, Inc. (TSLA)
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Source: CNN
The package awarded Musk the option to purchase 303 million split-adjusted shares, a package worth $139 billion at Friday's closing share price. Delaware Chancery Court Chancellor Kathaleen McCormick, who oversaw the bench, had found that even though Tesla shareholders twice approved the compensation plan, the size of the package was unfair to shareholders. She wrote that the Tesla board “bore the burden of proving that the compensation plan was fair, and they failed to meet their burden.” But the Supreme Court ruled Friday that the lower court erred in its opinion and that tossing out the 2018 pay package was “inequitable” and that doing so “leaves Musk uncompensated for his time and efforts over a period of six years.” This is a developing story and will be updated.
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- Romney breaks with GOP orthodoxy, says 'rich people like me' should pay more taxes to fix debt [FOX News]FOX News
- Elon Musk gets his $139 billion pay package from 2018 restored after a yearslong battle with a Delaware judge [Yahoo! Finance]Yahoo! Finance
- Elon Musk gets his $139 billion pay package from 2018 restored after a yearslong battle with a Delaware judge [CNN]CNN
- Tesla CEO Elon Musk's 2018 pay package reinstated by court [Yahoo! Finance]Yahoo! Finance
- Elon Musk's 2018 Tesla pay package must be restored, Delaware Supreme Court rules [CNBC]CNBC
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