Reported 7 months ago
Tesla shareholders voted to reinstate CEO Elon Musk's $44.9 billion pay package, showing confidence in his leadership despite the ongoing legal battle to overturn a Delaware judge's rejection earlier this year. Musk's future with Tesla seemed uncertain, but he assured shareholders at the annual meeting that he intends to stay for at least five years due to restrictions on selling the compensation stock. The vote also approved relocating Tesla's legal base to Texas while making board member terms shorter. Legal experts believe the final decision on Musk's pay will still be determined in Delaware, and while the vote doesn't automatically grant him the stock options, it provides Tesla with strong arguments for appeal.
Source: YAHOO