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Musk says Tesla shareholder vote for $56 bln pay package passing by wide margins
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Musk says Tesla shareholder vote for $56 bln pay package passing by wide margins
Jun 12, 2024 8:40 PM

June 12 (Reuters) - Tesla shareholder

resolutions on Chief Executive Elon Musk's pay package and a

move to shift its legal headquarters to Texas are currently

passing by wide margins, Musk said in a post on social media

platform X on Wednesday.

Shareholders of electric-car maker Tesla are voting on a

proposal to ratify CEO Musk's 2018 incentive package, valued at

up to $56 billion at the time. The result will be announced at a

meeting on June 13.

A person familiar with the preliminary tally, said Musk was

correct on both counts.

Tesla shareholders will also vote on other proposals

including the move of Tesla's legal headquarters from Delaware

to Texas, as well as the re-election of two board members:

Musk's brother Kimbal Musk, and James Murdoch.

Musk referred to the resolutions on his pay package and the

move to Texas in his tweet, thanking shareholders for their

support.

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