Ahead of Tesla's annual shareholder meeting on Thursday, something stupid happened. The company is set to vote on “re-ratifying” the $56 billion compensation package awarded to Elon Musk in 2018, which was struck down by a Delaware state court judge earlier this year. There will also be a vote on whether to change the company's incorporated location from Delaware to Texas.
Some of Tesla's biggest drives have been the company's “Retail group” Shareholders voted in favor of both, but were particularly focused on Musk’s compensation. It is unclear what practical impact the results of both votes will have. But basically Tesla executives and employees, including some who don't post on social media at all, are simply begging for your votes.
Breathtakingly long-form posts, Spaces audio conferences, podcasts, and numerous other calls to action have brought into focus the idea that Musk should receive these rewards because he achieved the initially agreed-upon goals. “A deal is a deal” Tesla Posted On the CEO's social media platform X.
But few are discussing the context and dominant themes of Premier Kathaleen McCormick's January ruling. Musk has so much influence over Tesla and its board that there were no real negotiations when the company struck a deal with him in 2017. 2018.
Instead, she said “radical activist judge” — an accusation that is easily distorted when you read her examination of the evidence in the case.
Then do your homework! Tesla fans, haters, shareholders and rubberneckers, here we go again, embedded below. McCormick's 201-page opinion reads thoroughly and clearly. It's worth taking another look before the vote takes place. At least it's a primer on the legal battle that will continue after Thursday's vote.
Tornetta v. by Sean O'Kane on Scribd. Opinion after Musk trial
