Tesla(US:TSLA) Benzinga·2025-10-16 09:49Core Viewpoint - Tesla Inc. is seeking to reinstate CEO Elon Musk's previously struck down $56 billion pay package, arguing that the shareholder vote to ratify it was highly informed and significant in Delaware's history [1][2][3]. Group 1: Legal Proceedings - Tesla's lawyers claim that the 2024 shareholder vote was the "most informed stockholder vote in Delaware history" [2]. - Jeffrey Wall, representing Tesla, emphasized that shareholders were fully aware of what they were voting for [3]. - The opposing attorney, Greg Varallo, warned that reinstating the pay package could lead to endless lawsuits [3]. Group 2: New Pay Package - Tesla has introduced a new pay package for Musk that could potentially make him a trillionaire if all milestones are met [4]. - The new package could still allow Musk to gain billions even if only one or two milestones are achieved [5]. - A previous $29 billion pay package could grant Musk 96 million shares, but it would be invalidated if the court reinstates the $56 billion package [5]. Group 3: Shareholder Meeting and Stock Activity - Tesla is set to hold a shareholder meeting in November to vote on the new pay package, which is expected to be a key focus of the meeting [6]. - The board has encouraged investors to support all recommendations, with Tesla's Chair praising Musk as a "once-in-a-generation visionary" [6]. - Musk's recent purchase of over $1 billion in Tesla stock contributed to a stock rally, pushing TSLA above the $420 mark, with current premarket trading at $434.36 [6].