Tesla (TSLA) shareholders are gearing up for a pivotal vote on CEO Elon Musk's unprecedented $56 billion pay package. This highly anticipated decision will be revealed during the company's shareholder meeting on Thursday, June 13. Yahoo Finance's Pras Subramanian breaks down the details, discussing the Telsa independent chair's support for the approval of this substantial pay package. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
Tesla Board Chair Robyn Denholm says it is imperative that Chief Executive Elon Musk's 2018 $56 billion compensation package is reapproved if the EV giant wants to continue "motivating him" to work for the company, according to a regulatory filing Thursday. TSLA shares angled lower Friday. In a letter sent to Tesla shareholders Wednesday, Denholm implored investors to give Musk his 2018 pay deal.
The legal team that voided Elon Musk's record Tesla pay package deserves a tiny fraction of the $5.6 billion legal fee they requested because their lawsuit provided almost no benefit for the company, the electric automaker argued in court papers on Friday. Tesla said the legal team for Richard Tornetta, the shareholder whose lawsuit led to a January ruling voiding Musk's $56 billion pay package, should be paid as little as $13.6 million for their work, which began with a 2018 complaint.