Elon Musk's record salary pack

2024-12-03

Elon Musk's record salary package at $Tesla Motors(TSLA)$ has been rejected again by a Delaware judge, despite shareholder approval. Judge Kathaleen St. J. McCormick upheld her initial decision from January, ruling that the board was overly influenced by Musk when it adopted the plan in 2018.

The stock option plan, initially valued at $2.6 billion, had soared to $56 billion when canceled and is now worth $101.5 billion based on Monday's closing price.

The ruling could lead to significant losses for Musk, though he remains the world's richest person. Tesla shares fell 1.4% in after-hours trading.

Musk has 30 days to appeal the decision, and Tesla has stated it will challenge the ruling, arguing that it undermines shareholders' rights. McCormick found that Tesla's board, influenced by conflicts of interest, overpaid Musk.

1 Trln Pay Package Approved! Tesla Sell the News: Hold for Long Term?

On November 6, more than 75% of shareholders voted in favor of Tesla CEO Elon Musk’s new compensation package. Under the plan, if Musk meets a series of milestones over the next ten years, he will gradually receive about 423.7 million restricted stock units (RSUs) — up to USD 1 trillion. Can Musk realistically hit these ambitious milestones in the next decade? Will this massive pay package truly align Tesla’s growth with shareholder interests After the approval, is Tesla a “sell the news” trade — or a long-term conviction hold?

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Reglloyd
2024-12-09
Reglloyd
A business is run by and managed by its CEO and board of managers and shareholders, its news to me that a Judge can suddenly overrule its shareholders wishes. The party ain’t over yet.Watch the space.

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Tesla Sell the News: Hold for Long Term?","type":0,"rnLink":"https://laohu8.com/RN?name=RNTheme&page=/theme/detail&rndata={\"themeId\":c1986e5084bf4ec897ec09b8cc2dce25}&rnconfig={\"headerBarHidden\": true}","description":"On November 6, more than 75% of shareholders voted in favor of Tesla CEO Elon Musk’s new compensation package.\nUnder the plan, if Musk meets a series of milestones over the next ten years, he will gradually receive about 423.7 million restricted stock units (RSUs) — up to USD 1 trillion.\nCan Musk realistically hit these ambitious milestones in the next decade?\nWill this massive pay package truly align Tesla’s growth with shareholder interests\nAfter the approval, is Tesla a “sell the news” trade — or a long-term conviction hold?","image":"https://community-static.tradeup.com/news/706410be6256c41e601bcb73757cf697"}],"images":[],"coverImages":[],"html":"<html><head></head><body>Elon Musk's record salary package at <a data-mention-id=\"TSLA\" class=\"teditor-mention\" data-mention-name=\"Tesla Motors\" href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$</a> has been rejected again by a Delaware judge, despite shareholder approval. Judge Kathaleen St. J. McCormick upheld her initial decision from January, ruling that the board was overly influenced by Musk when it adopted the plan in 2018.The stock option plan, initially valued at $2.6 billion, had soared to $56 billion when canceled and is now worth $101.5 billion based on Monday's closing price.The ruling could lead to significant losses for Musk, though he remains the world's richest person. Tesla shares fell 1.4% in after-hours trading.Musk has 30 days to appeal the decision, and Tesla has stated it will challenge the ruling, arguing that it undermines shareholders' rights. McCormick found that Tesla's board, influenced by conflicts of interest, overpaid Musk.</body></html>","htmlText":"<html><head></head><body>Elon Musk's record salary package at <a data-mention-id=\"TSLA\" class=\"teditor-mention\" data-mention-name=\"Tesla Motors\" href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$</a> has been rejected again by a Delaware judge, despite shareholder approval. Judge Kathaleen St. J. McCormick upheld her initial decision from January, ruling that the board was overly influenced by Musk when it adopted the plan in 2018.The stock option plan, initially valued at $2.6 billion, had soared to $56 billion when canceled and is now worth $101.5 billion based on Monday's closing price.The ruling could lead to significant losses for Musk, though he remains the world's richest person. 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