Tesla plans to ask shareholders to reinstate CEO Elon Musk’s $56 billion pay package from 2018 after a Delaware court voided the record-setting stock…
plans to ask shareholders to reinstate CEO Elon Musk's $56 billion pay package from 2018 after a Delaware court voided theThe company announced the move in a preliminary proxy filing Wednesday, just days after the company told employees it would cut headcount by 10%.
The two proposals are likely to be fiercely controversial. Tesla has hired a proxy solicitor, Innisfree M&A, and plans to spend an undetermined amount, in the millions, to help secure the votes for the two proposals, according to the filing.Tesla has not hired Innisfree since 2018, when it first asked shareholders to vote on Musk's pay package. Companies often only advertise the cost of proxy solicitations when major proposals or proxy fights are expected.
The company also noted that"dozens of institutional stockholders" have told Tesla that they disagree with the Tornetta decision.are incorporated there — because the state has a robust legal framework and court system dedicated to resolving corporate issues, like executive pay, but also broader contract negotiations.
Norge Siste Nytt, Norge Overskrifter
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