Tesla shareholders re-approve Elon Musk’s $44.9 billion pay package
Enlarge / Elon Musk. (credit: Getty Images | Bloomberg)
Tesla shareholders have re-approved CEO Elon Musk's $44.9 billion pay package, the company announced today. "Our stockholders have approved the ratification of the 100 percent performance-based stock option award to Elon Musk that was approved by stockholders in 2018," Brandon Ehrhart, Tesla's general counsel and corporate secretary, announced at Tesla's annual shareholder meeting.
Ehrhart also said that shareholders approved a corporate move from Delaware to Texas, and the re-election of board members James Murdoch and Kimbal Musk (Elon Musk's brother).While the official announcement was made at the shareholder meeting late in the day on Thursday, Musk revealed that the yes votes were winning in a social media post last night.
"Both Tesla shareholder resolutions are currently passing by wide margins!" Musk wrote, referring to the pay vote and the move from Delaware to Texas. His post included charts indicating that both shareholder resolutions had more than enough yes votes to surpass the "guaranteed win" threshold.