The vote doesn't negate the Delaware Chancery Court's decision faulting the process by which Tesla's board originally approved the CEO's pay package.
June 14, 2024 at 03:03 PM
3 minute read
The original version of this story was published on Delaware Business Court Insider
Court-watchers say a vote by Tesla shareholders to ratify Elon Musk’s pay package doesn’t negate the Delaware Chancery Court’s ruling that faulted the process by which Tesla’s board originally approved the package in 2018.
Tesla shareholders voted on Thursday in favor of Musk’s compensation plan, one that Chancellor Kathaleen St. J. McCormick subsequently ordered to be rescinded.
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Elon Musk, chief executive officer of Tesla Inc., at the Tesla plant in Gruenheide, Germany, on Wednesday, March 13, 2024. Credit: Krisztian Bocsi/Bloomberg
