The Delaware Supreme Court has ruled that Elon Musk’s 2018 Tesla CEO pay package, worth approximately $56 billion, must be restored, overturning a lower court’s decision to cancel the compensation plan.
CNBC reports that the Delaware Supreme Court has reversed a lower court’s decision to rescind Elon Musk’s 2018 CEO pay package from Tesla, which was valued at around $56 billion when it vested. The judges stated that the cancellation of Musk’s pay plan by the Court of Chancery was an overly extreme remedy and that the lower court failed to provide Tesla with an opportunity to determine fair compensation.
The decision likely concludes the…
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