Tesla defends CEO Elon Musk's pay package
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Cathie Wood says retail investors will decide Elon Musk's $1 trillion Tesla pay deal, set for a shareholder vote on November 6.
Attorneys representing Tesla and its CEO Elon Musk argued the Supreme Court should overturn a 2023 Chancery Court ruling that rescinded Musk's $50 billion pay package after a judge ruled the pay plan derived from a process that didn't fully inform shareholders and was shaped by board members beholden to Musk.
The justices on the State Supreme Court heard arguments in a long dispute about whether the Tesla chief executive’s compensation was fair to shareholders.
Cathie Wood believes Elon Musk's trillion-dollar pay package will be approved at the shareholder meeting next month despite ISS opposition.
The Delaware Supreme Court heard arguments over Elon Musk's $56 billion Tesla pay package. A lower court judge previously struck down the compensation plan, citing Musk's influence over the board. Tesla shareholders have twice approved the pay package by a supermajority vote.