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Tesla shareholders approve Elon Musk’s $56B pay deal and return to Texas
Tesla shareholders approve a $56 billion pay package for CEO Elon Musk and vote to reincorporate in Texas.
Tesla shareholders have voted to both reapprove a pay package for CEO Elon Musk, initially valued at $56 billion, and to reincorporate the electric vehicle company in Texas. “The vote changes nothing,” Mathieu Shapiro, managing partner at Obermayer Rebmann Maxwell & Hippel, told the BBC, stating it only provides Tesla with a chance to seek a more favorable court decision. Tesla Chair Robyn Denholm’s credibility was at stake following criticism from Judge McCormick, who described her oversight as “lackadaisical” and characterized the board’s behavior as that of “supine servants of an overweening master”
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