Elon Musk Thanks Tesla Shareholders After They Write To Delaware Court Against Voiding His $56B Pay Package
Portfolio Pulse from Anan Ashraf
Tesla Inc shareholders are writing to the Delaware Court of Chancery against the nullification of CEO Elon Musk's $56 billion pay package from 2018. Shareholders argue the court's decision lacks financial merit for them and criticize the plaintiff's counsel's request for $6 billion in Tesla stock. Musk thanked the shareholders for their support. The campaign follows a judge's ruling that found the 2018 pay package unfair to other shareholders, with an appeal expected from Musk.
March 05, 2024 | 5:41 am
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Tesla shareholders are opposing the Delaware Court's decision to nullify Elon Musk's $56 billion pay package, arguing it lacks financial merit and criticizing the plaintiff's $6 billion stock request. Musk expressed gratitude for their support.
The shareholder campaign against the court's decision and Musk's public gratitude may influence investor sentiment, potentially stabilizing or positively impacting Tesla's stock in the short term. However, the ongoing legal proceedings and the uncertainty surrounding the final outcome make the exact impact on the stock price difficult to predict.
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