Elon Musk wins back his huge Tesla payday in shareholder vote
Tesla shareholders on Thursday voted to restore CEO Elon Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year.
Vote totals were not immediately announced. The favorable vote doesn't mean CEO Musk will get the all-stock compensation anytime soon. The package is likely to remain tied up in the Delaware Chancery Court for months as Tesla appeals the rejection.
The court ruled in January that Musk essentially controlled the Tesla board when it approved the package in 2018, and that it failed to fully inform shareholders who approved it the same year.
Tesla has said it would appeal, but asked shareholders to reapprove the package at Thursday's the company's annual meeting in Austin, Texas.
THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below.
Tesla shareholders are charting the future of the electric vehicle company Thursday as they wrap up voting whether or not to restore CEO Elon Musk's massive pay package that was thrown out by a Delaware judge.
Shares of the company rose Thursday after Tesla said in a regulatory filing that stockholders are voting to approve Musk's pay, valued around $44.9 billion, by a wide margin.
In a filing with the U.S. Securities and Exchange Commission on Thursday, Tesla published Musk's own posts late Wednesday on X, the social media platform he owns, with charts that appeared to show that shareholders were in favor of his compensation package, as well a measure to move Tesla's legal home from Delaware to Texas.
The company
