Musk says Tesla shareholders voting yes for his $56 bln pay package

SUMMARY

Tesla shareholders are set to vote on approving a $56 billion pay package for CEO Elon Musk and relocating the company’s legal headquarters to Texas. According to Musk's post on social media platform X, early voting results indicate wide approval margins. This vote comes as a significant boost for Musk and the board amid opposition from major investors like Glass Lewis and Institutional Shareholder Services (ISS). The Delaware court had previously voided the 2018 pay package, citing the board's excessive deference to Musk. Final results will be announced at Tesla's Texas headquarters at 4:30 pm (2130 GMT) on Thursday.

Musk says Tesla shareholders voting yes for his $56 bln pay package

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