Tesla shareholders vote to reinstate Musk's $56B pay package [Yahoo! Finance]
BARON CAPITAL ENTERPRISE (BCAP)
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Source: Yahoo! Finance
The EV-maker held its annual shareholder meeting on Thursday in Austin, Texas, and announced that shareholders approved Musk's pay package, according to preliminary results announced by the company's general counsel at the meeting. Additionally, shareholders voted to reincorporate Tesla as a business domiciled in Texas instead of Delaware. Musk suggested earlier in the day that shareholders were set to approve the proposals, posting a graph on X, formerly Twitter, that showed the number of votes in favor for both proposals surging above a "guaranteed win" threshold in recent days. He wrote in a post on X, "Both Tesla shareholder resolutions are currently passing by wide margins! Thanks for your support!!" Tesla shareholders first approved the $56 billion pay package in 2018. The compensation plan features no salary or bonus and offers rewards in the form of stock options that are awarded based on Tesla's market value rising to as much as $650 billion over the 10 years following 2
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