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Tesla Calls On The Delaware Court Judge To Approve Elon Musk’s Recently Ratified Pay Package, But Statutory Authorization Can’t Cure Breaches Of Fiduciary Duty Under The Delaware Law

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Elon Musk Tesla

After the entertaining but somewhat ineffective theatrics surrounding the fate of Elon Musk's $48 billion pay package, replete with a shareholder-led re-ratification of Musk's equity-only compensation scheme, we are back in the judicial arena. While Elon Musk feels emboldened by Tesla shareholders reposing their confidence in his leadership skills en masse, the vote remains largely ceremonial in nature, and constitutes a "novel" approach to dealing with fiduciary duty breaches under the Delaware General Corporation Law. The Chess-Like Moves In Elon Musk's Compensation Package Saga Tesla underwent a trial in the Delaware Court of Chancery in 2022, where one shareholder, Richard […]

Read full article at https://wccftech.com/tesla-calls-on-the-delaware-court-judge-to-approve-elon-musk-recently-ratified-pay-package/

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