This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Tesla shareholders originally backed the Elon Musk compensation plan in March 2018. A US judge on Monday upheld her decision to reject Elon Musk's massive $55.8 billion compensation package at Tesla, denying an attempt to restore the pay deal through a shareholder vote. In a court filing, Chancellor Kathaleen McCormick of Dela ...

Advertisement Tesla told employees on its Cybertruck production line that they didn't need to report to work for the next three days.Regular scheduling will resume on Friday, the company told staff.Tesla shortened production hours for the Cybertruck line earlier this year.On Monday, Tesla notified workers at the Austin factory where it assembles the Cybertruck to take the next three days off, according to a memo viewed by Business Insider."On Tuesday, Wednesday, and Thursday this week (Dec. 3-5), you do no ...

Shares of Tesla slipped in after-hours trading Monday following the news that a Delaware judge for a second time moved to strike down a multibillion-dollar pay package for CEO Elon Musk. Tesla's (TSLA) stock, which rose more than 3% in Monday's regular session, was off more than 1% in late action. The decision by Chancellor Kathaleen McCormick upholds her own, earlier, ruling invalidating the package, which was valued above $50 billion. That decision was followed in June by a shareholder vote to approve th ...

A Delaware judge ruled on Monday that Tesla CEO Elon Musk still is not entitled to receive a $56 billion compensation package despite shareholders of the electric vehicle company voting to reinstate it.The ruling by the judge, Chancellor Kathaleen McCormick of the Court of Chancery, follows her January decision that called the pay package excessive and rescinded it, surprising investors, and cast uncertainty over Musk’s future at the world’s most valuable carmaker.Musk did not immediately respond to an emai ...

ToplineA judge in Delaware struck down a record-breaking pay package for billionaire Elon Musk for a second time—despite the $50 billion in stock options being approved by Tesla shareholders in June—upholding her previous judgment that the company’s shareholders were too under the influence of Musk to approve the package.AFP or licensors Key FactsMonday’s ruling by Chancellor Kathaleen McCormick of the Court of Chancery upheld that Musk had too much sway over the Tesla board when it approved his 2018 pay pa ...

A Delaware judge has once again struck down a compensation plan for Tesla Inc TSLA CEO Elon Musk from 2018, news that comes six months after Tesla shareholders approved the pay package for a second time.What Happened: A 2018 pay compensation plan provided several milestones that seemed extremely hard for Musk and Tesla to hit, with high payouts if he could accomplish the improbable.Musk hit the milestone accomplishments from the 2018 incentive plan which led to options paid out worth around $56 billion, as ...

A Delaware judge ruled on Monday that the Tesla chief, Elon Musk, still is not entitled to receive a $56bn compensation package despite shareholders of the electric vehicle company voting to reinstate it.The ruling by the judge, Chancellor Kathaleen McCormick of the court of chancery, follows her January decision that called the pay package excessive and rescinded it, surprising investors, and cast uncertainty over Musk’s future at the world’s most valuable carmaker.Tesla has said in court filings that the ...

Advertisement A Delaware judge decided against reinstating Elon Musk's $56 billion pay package.Tesla shareholders approved Musk's pay package in June, after a judge voided it in January.Tesla's next steps could be to appeal the ruling or create an entirely new compensation plan.A Delaware judge has once again slapped down Elon Musk's pay package from Tesla."The large and talented group of defense firms got creative with the ratification argument, but their unprecedented theories go against multiple strains ...

Delaware Chancery court judge Kathaleen McCormick has denied Tesla’s request to revise her decision to strike down CEO Elon Musk’s $56 billion pay package — despite shareholders voting at the company’s annual meeting this year to “re-ratify” the deal. Her decision, laid out in a 103-page opinion published on Monday, explains that the attempt by Tesla’s legal team — which Musk has called “hardcore” — to change her mind contained multiple flaws, each of which were fatal on their own. Tesla has been expected ...

Elon Musk listens as US President-elect Donald Trump speaks during a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC.Tesla CEO Elon Musk lost his bid to get his 2018 CEO pay package reinstated on Monday when a Delaware judge upheld her prior ruling that the compensation plan improperly granted.The package, worth about $56 billion, was the largest compensation plan in U.S. history for a public company executive. Musk attorneys attempted to sway ...