Tesla shareholders on Thursday voted to reinstate CEO Elon Musk's $56 billion pay package that was voided by a Delaware judge and change the company's state of incorporation from Delaware to Texas. The EV-maker held its annual shareholder meeting on Thursday in Austin, Texas, and announced that shareholders approved Musk's pay package, according to preliminary results announced by the company's general counsel at the meeting.
The $56 billion figure refers to the total value of the compensation plan based on the value of the stock when the suit was ongoing. Given that the value fluctuates with changes in Tesla's stock price, the company cited the value as $44.9 billion in its proxy statement.
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