FILE - Tesla CEO Elon Musk leaves the Tesla Gigafactory for electric cars after a visit in Gruenheide near Berlin, Germany, March 13, 2024. If Tesla shareholders vote against restoring Elon Musk's $44.9 billion pay package that was tossed out by a Delaware judge, the CEO could deliver on threats to take artificial intelligence research to another firm, or even leave Tesla. – If Tesla shareholders vote against restoring Elon Musk's $44.
Also on the shareholder ballot is the related issue of moving the electric vehicle maker's legal home out of Delaware to Texas.that invalidated Musk's pay package. In a January opinion on a shareholder lawsuit, the judge determined that Musk controlled the Tesla board and is not entitled to the landmark package once worth nearly $56 billion.
Erik Gordon, a business and law professor at the University of Michigan, said individual shareholders are likely to vote for the package, and they own more than half of Tesla's shares. “Only 2 days left to protect & help grow the value of your investment in $TSLA by voting FOR ratification of the 2018 CEO Performance Award,” Tesla posted on X early Tuesday.