Tesla shareholders have voted in favor of a $56 billion compensation package for CEO Elon Musk and the relocation of the company’s legal headquarters from Delaware to Texas.
Despite opposition from major proxy firms and some large investors, the all-share deal received support from a mix of institutional and retail investors. The decision aims to bolster Tesla's appeal against a Delaware court ruling that voided the pay package, citing conflicts of interest.
The final results will be announced at Tesla’s Texas headquarters on Thursday. The vote reflects confidence in Musk’s leadership amidst concerns over his multitasking and Tesla's recent performance.
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