Chancery Invalidates Elon Musk’s $55.8 Billion Equity Compensation Package
Harvard Corporate Governance
FEBRUARY 21, 2024
1] The plaintiff-stockholders alleged that Tesla’s directors breached their fiduciary duties by awarding Musk performance-based stock options in January 2018 with a potential $55.8 A February 8, 2018 proxy statement (the “Proxy”) notified stockholders of a vote on the Grant, which was held on March 21, 2018. Tornetta et al.
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