Tesla to Texas? Elon Musk announces major shareholder vote
Tesla will hold a shareholder vote to transfer its state of incorporation to Texas, CEO Elon Musk announced after a Delaware judge voided his $56 billion pay package. On Tuesday, Delaware judge Kathaleen McCormick sided with Tesla investors who had challenged the 2018 share-based pay package, ruling that the "unfathomable sum" was unfair to shareholders and negotiated by directors who appeared beholden to Musk."Never incorporate your company in the state of Delaware," Musk posted on X, formerly Twitter, aft ...