OPINION
Dear Friends,
What a colossal waste of time by Delaware Chancery Court Chancellor Kathaleen McCormick! She said that the process wasn’t fair and that the shareholders wanted more, yet when the Tesla shareholders voted, they voted the exact same way they voted before. What a giant, colossal waste of time and money by this Chancellor.
It’s just like going against TransPerfect shareholders — thanks Chancellor, I and the shareholders say sarcastically, the shareholders don’t need your help! In both cases, the court went AGAINST what the shareholders wanted and was agreed to in a specific and clear contract.
Who is she to say what the shareholders want when they’re already said what they wanted! See the Forbes story below and let me know your feedback on this, folks!
Respectfully Yours,
Judson Bennett–Coastal Network
BREAKING
Elon Musk Says Tesla Shareholders Support $50 Billion Pay Package ‘By Wide Margins’
Siladitya Ray Forbes Staff
Tesla CEO Elon Musk said Wednesday night the company’s shareholders voted to reinstate his massive 2018 compensation deal—estimated to be worth around $50 billion—months after it was invalidated by a Delaware judge.
KEY FACTS
In a post on X, Musk said the shareholder resolutions on his pay and reincorporating the company in Texas were “passing by wide margins.”
The post included a graph showing both measures already had significantly more votes than needed to pass.
The push to change Tesla’s state of incorporation from Delaware to Texas was also spearheaded by Musk after he conducted a “public vote” on his X account.
Musk thanked Tesla shareholders and his supporters on X and answered “yes” when one of his followers said “we got you the options now you have to make Tesla the most valuable company on Earth.”
Tesla’s shares surged nearly 6.5% in premarket trading early Thursday before settling at around $187—up 5.45% from the previous day.