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Forget Elon Musk's record pay package from Tesla. More could be on the way. [CNN]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
The question now is, how much will he get going forward? The package, made up of 303 million stock options worth more than $47 billion based on the current value of Tesla shares, was thrown out in January by a judge in Delaware , where Tesla has been incorporated. Delaware Chancery Court Chancellor Kathaleen McCormick ruled in favor of a shareholder suit that the process by which Musk was awarded the options was “deeply flawed” and did not pass the burden of fairness. It's not clear if even with the new shareholder vote that Musk will have the options returned to him, according to legal experts. “It's not an automatic fix. It doesn't override the decision,” Samantha Crispin, partner and chair of the corporate department at global law firm Baker Botts, told CNN. “The chancellor found a number of defects in the process.” But Tesla shareholders also approved moving Tesla's state of incorporation to Texas, partly in reaction to the Delaware decision. So even if the courts in Delaw
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