Remove Corporation Remove Delaware Remove Legal Remove News
article thumbnail

Judge in Musk pay package case warned of massive legal fee windfall

Teslarati

The judge in the Elon Musk pay package case is being warned by the Delaware High Court that the massive legal fee windfall is a major risk. The Delaware High Court told McCormick earlier this month that these massive paydays can “turn into a windfall,” according to a report from Reuters. I’d love to hear from you!

Legal 91
article thumbnail

Texas Governor Greg Abbott welcomes Tesla after reincorporation vote passes “Guaranteed Win” mark

Teslarati

Texas Governor Greg Abbott expressed his support to Elon Musk and Tesla after the CEO noted on X that TSLA investors are on track to ratify his 2018 CEO Performance Award and approve the electric vehicle maker’s proposed redomestication from Delaware to Texas. Welcome to a state that has neither a personal nor a corporate income tax.

Texas 105
article thumbnail

Tesla Chair of the Board letter urges stockholders to approve Texas reincorporation

Teslarati

As could be seen in Denholm’s letter , Texas is already the business home for Tesla, so it only makes sense to make the Lone Star state into the company’s legal home as well. We need to make it our legal home, too. Over the last several years it has become clear that Delaware is no longer the right jurisdiction for us.

Texas 102
article thumbnail

Over 5.8k Tesla investors representing $4.1 billion are speaking out in support of Elon Musk

Teslarati

Thousands of retail Tesla ( NASDAQ:TSLA ) investors have banded together to express their support of CEO Elon Musk’s and his 2018 compensation plan, which was rescinded by a Delaware judge last week. The group also expressed their support to the idea of Tesla moving its state of incorporation from Delaware to Texas. The post Over 5.8k

Delaware 145
article thumbnail

Tesla shareholders to vote on $56B pay package for Elon Musk (again)

Teslarati

The filing came with a letter written by Chairperson Robyn Denholm, who wrote that the Tesla Board disagreed with the Delaware Court’s ruling on Musk’s 2018 pay package. “We do not think that what the Delaware Court said is how corporate law should or does work. . billion and a $2.6

article thumbnail

How Tesla shareholders are voting on Musk’s 2018 pay package

Teslarati

Tesla investors currently have the chance to vote on a number of proposals for the company’s upcoming shareholder’s meeting, with CEO Elon Musk’s 2018 pay package hanging in the balance after it was struck down by a Delaware judge. ” What are your thoughts?

2018 131
article thumbnail

Tesla investors to vote on Texas incorporation, ratification of Musk’s 2018 comp plan at 2024 annual meeting

Teslarati

The document included details about the electric vehicle maker’s 2024 annual meeting of stockholders, updates regarding the company’s plans for CEO Elon Musk’s 2018 pay package, as well as an initiative to move Tesla’s state of corporation from Delaware to Texas.

Texas 113