Texas Governor Greg Abbott expressed his assist to Elon Musk and Tesla after the CEO famous on X that TSLA traders are on observe to ratify his 2018 CEO Efficiency Award and approve the electrical automobile maker’s proposed redomestication from Delaware to Texas. Gov. Abbott shared his ideas in a publish on his private X account.
As per Musk, the Tesla traders’ votes in favor of Proposals Three and 4 within the 2024 Annual Stockholders Assembly have handed the “Assured Win” mark. Thus, whereas the 2024 Cyber Roundup remains to be just a few hours away, it seems that Tesla shareholders have already made their voices identified with reference to the ratification of Elon Musk’s 2018 compensation plan and Tesla’s proposed reincorporation to Texas.
Gov. Abbott congratulated Musk for getting the pay that he was promised again in 2018. “Congrats Elon on getting the pay you have been promised and in your new incorporation in Texas. Welcome to a state that has neither a private nor a company earnings tax,” the Texas Governor wrote in his publish on X.
Congrats Elon on getting the pay you have been promised and in your new incorporation in Texas.
Welcome to a state that has neither a private nor a company earnings tax. https://t.co/HOKd9oOcFA
— Greg Abbott (@GregAbbott_TX) June 13, 2024
Musk appeared to understand the official’s heat welcome, as he responded with a brief “Thanks” to the Governor’s well-wishes. Amidst the interplay between the Texas Governor and the CEO, Tesla fanatics at the moment are calling for the Lone Star state to lastly enable the EV maker’s direct gross sales mannequin. Others have additionally speculated that X would possibly quickly name Texas dwelling as nicely.
Thanks
— Elon Musk (@elonmusk) June 13, 2024
It ought to be famous that Musk’s 2018 CEO Efficiency Award had already been permitted by TSLA shareholders again in 2018, however in late January, a Delaware Decide rescinded the compensation plan. In her Opinion, the Delaware Decide famous that Musk’s pay package deal was “unfair” and that the method for figuring out the package deal was “deeply flawed.”
Curiously sufficient, the authorized criticism towards Musk’s pay package deal was filed by Richard Tornetta, a thrash metallic drummer and Tesla shareholder who held 9 shares in 2018, and whose authorized group is at the moment requesting over 29 million TSLA shares — value over $5 billion at this time — to be granted as their price for the case. Such a price would translate to a fee of over $200,000 an hour.
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