What Elon Musk's Pay Package Vote Means for His $174 Billion Fortune [BNN Bloomberg (Canada)]
Tesla, Inc. (TSLA)
Last tesla, inc. earnings: 4/29 04:11 pm
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Source: BNN Bloomberg
It was one thing for shareholders to approve his moonshot pay package in 2018, when it contained seemingly audacious goals and the market for electric vehicles was still Tesla's to lose. In requesting that they ratify the same package again, Musk and Tesla's board are gambling that the billionaire's cult following and his role in the carmaker's stock surging about 700% over the past six years — which its leadership says merits a big payday — will outweigh the fact that much has changed since 2018. Most notably, that the pay in question was voided by a Delaware court earlier this year. Read More: Tesla Asks Investors to Approve Musk's $56 Billion Pay Again Tesla's 2024 proxy statement, filed Wednesday, asks shareholders to approve the same 2018 compensation package for its chief executive officer that was rejected by Delaware Chancery Court Judge Kathaleen St. J. McCormick, who argued the board wasn't looking out for the best interests of investors. What's immediately at stake
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