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The hearing follows a January ruling in which Chancellor Kathaleen St. Jude McCormick concluded that Musk engineered the landmark 2018 pay package in sham negotiations with directors who were not independent. The compensation package initially carried a potential maximum value of about $56 billion, but that sum has fluctuated over the years based on Tesla’s stock price.
Following the court ruling, Tesla shareholders met in June and ratified Musk’s 2018 pay package for a second time, again by an overwhelming margin.
Defense attorneys say the vote makes clear that Tesla shareholders, with full knowledge of the flaws in the 2018 process that McCormick pointed out in her January ruling, are adamant that Musk is entitled to the pay package.
“Honoring the shoulder vote would affirm the strength of our corporate system,” David Ross, an attorney for Musk and the other individual defendants, told McCormick. “This was stockholder democracy working.”
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Denne historien er fra August 10, 2024-utgaven av Techlife News.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Children giggle as young people flash their smartphones to film robots carrying plates of freshly prepared meals on their inbuilt trays to deliver to diners in a busy eatery in Kenya's capital.
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Grant Jeide looked like another dude riding the rollicking waves left in the wake of a 23-foot (7-meter) boat ripping through the water at speeds of up to 40 miles per hour on a river in Northern California’s Delta earlier this summer.
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Despite slowing U.S. electric vehicle sales, Hyundai this week rolled out the 2025 versions of its Ioniq 5 electric SUV with improved battery range and charging aimed at broadening the appeal of vehicles to be built at a massive new Georgia factory.
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Dollar Tree is slashing its full-year earnings and sales forecasts as its customers continue to struggle with higher prices and spend less.
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ESPN NETWORKS, ABC AND DISNEY CHANNELS GO DARK ON DIRECTV ON A BUSY NIGHT FOR SPORTS 7
ESPN has gone off the air on a major carrier for the second straight year during the U.S. Open tennis tournament and in the midst of the first full weekend of college football.