At the annual shareholder meeting in Austin, Texas, Tesla (TSLA) shareholders overwhelmingly supported Elon Musk’s extraordinary pay agreement and the company’s new Texas incorporation. Musk expressed his gratitude, stating, “Hot damn I love you guys,” following the announcement of the results.
The exact percentage of shareholders who voted in favor of the $48 billion compensation package, previously valued at $56 billion, was not immediately disclosed. This pay plan, initially approved six years ago with 73% support, was recently voided by a Delaware judge.
Tesla’s stock experienced a slight increase in after-hours trading, with Musk’s earlier statement hinting at a positive outcome for both proposals, which were “passing by wide margins.”
Musk joins a growing list of executives who have successfully defended their compensation packages this year.
Only a handful of companies have managed to…
2024-06-13 16:11:35
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