Tesla Shareholders Approve Musk's $56 Billion Pay Package
Maxdailynews— 27 May
Board Chair Denholm: Pay Package Necessary for Retaining and Motivating Musk
- Shareholder vote shows confidence in Musk's leadership despite challenges
- Pay package is the largest in U.S. corporate history and faced legal challenges
- Musk has threatened to build AI and robotics products outside of Tesla if he does not gain enough voting control
Approve or Not: Shareholder Vote Results
| Proposal | Votes For | Votes Against |
|---|---|---|
| Approve Musk's $56 Billion Pay Package | 90% | 10% |
| Move Company's Legal Home to Texas | 85% | 15% |
| Re-elect Kimbal Musk as Board Member | 92% | 8% |
| Re-elect James Murdoch as Board Member | 88% | 12% |
Legal Battles Still Await
- Delaware judge who ruled against the package criticized Tesla's board for being "beholden" to Musk
- Tesla's board held the shareholder vote to bolster its appeal of the ruling
- Musk may face fresh lawsuits over Thursday's vote on the package