In a filing with federal regulators this week, the company said it would ask shareholders to vote on both issues during its annual meeting in June.
In January, Chancellor Kathaleen St. Jude McCormick ruled that Musk is not entitled to a landmark compensation package awarded by Tesla’s board of directors.
Five years ago, a Tesla shareholder lawsuit alleged that the pay package should be voided because it was dictated by Musk and was the product of sham negotiations with directors who were not independent of him.
It may be a tough sell for Tesla and Musk in June. Shares of Tesla Inc. have tumbled nearly 40% this year as global demand for electric vehicles fades and Tesla sales have fallen rapidly.
Musk said a month after the judge’s ruling that he would try to move Tesla’s corporate listing to Texas, where he has already moved company headquarters.
This story is from the April 20, 2024 edition of Techlife News.
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This story is from the April 20, 2024 edition of Techlife News.
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