Judge: Musk was overpaid
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@Jolly said in Judge: Musk was overpaid:
Does the judge's ruling make other companies rethink
I wonder if there's grounds for appeal in the case of Musk.
Think he can afford a lawyer?
How much revenue does Tesla generate for Delaware?
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@Jolly said in Judge: Musk was overpaid:
Does the judge's ruling make other companies rethink some of their incorporation or business practices?
I doubt it. I think this instance would be pretty rare. I think the benefits for companies are much more than the non-benefits to keep incorprorated in Delaware.
I looked, and 70% of US based Fortune 500 companies are incorporate in Delaware.
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Musk pulls Neuralink out of Delaware.
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Tesla is asking shareholders to restore a $56 billion pay package for CEO Elon Musk that was rejected by a Delaware judge this year, and to shift the company’s corporate home to Texas.
The changes, to be voted on by stockholders at a June 13 annual meeting, could be a tougher sell than when it was first approved in 2018. The Austin, Texas, electric vehicle maker is struggling with falling global sales, slowing electric vehicle demand, an aging model lineup and a stock price that has tumbled 37% so far this year.
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https://edition.cnn.com/2024/06/09/business/elon-musk-pay-package-shareholder-vote/index.html
The answer will come Thursday, when Tesla holds its annual shareholders meeting and announces results of shareholder votes on two proposals. One would once again approve the package of 303 million split-adjusted stock options, worth $46.9 billion as of Friday’s closing price. That’s down from the $51 billion those options were worth at the time of the decision.