Tesla shareholders have re-approved Chief Executive Officer (CEO) Elon Musk’s multi-billion dollar salary package, which was canceled in January.
At the company’s annual shareholders meeting held in Austin, Texas, the votes for Musk’s salary package and the company’s plan to move to Texas were announced.
Shareholders voted in favor of both Musk’s pay package and Tesla’s proposed relocation to Texas.
In January, Delaware Court Judge Kathaleen McCormick paved the way for the cancellation of Musk’s salary package worth approximately $ 56 billion on the grounds that it was “unfairly determined by the company’s board of directors”.
Elon Musk, who shared on his X account on the subject, used the phrase “Never build your company in the state of Delaware.” and then announced his plan to move the company to the state of Texas.
The pay package, which was worth about 56 billion dollars earlier this year, had declined slightly due to the loss of value in Tesla’s shares.
It is stated that the votes in favor of the salary package will give Musk an advantage, even if they do not override the court decision.
