(Reuters) -Electric automaker Tesla on Wednesday asked shareholders to ratify billionaire Elon Musk's compensation that was set in 2018 under the CEO pay package, just months after a Delaware judge rejected it.

The judge had tossed out Musk's record-breaking $56 billion pay in January, calling the compensation granted by the board "an unfathomable sum" that was unfair to shareholders.

Tesla also urged its investors to approve moving the company's state of incorporation from Delaware to Texas in a regulatory filing.

Shares of the world's most valuable automaker were up 1% before the bell.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Arun Koyyur)