Shareholders back Elon Musk in pay fight as Tesla plans Texas move

AutoExec Summary
Tesla shareholders have voted in favour of a proposal to give CEO Elon Musk a pay package worth over US$56 billion at the annual Cyber Roundup shareholder meeting in Texas. Shareholders also approved a proposal to reincorporate the company in Texas from Delaware. In addition, they voted to declassify the Tesla board and introduce a simple majority voting system. The move to Texas was prompted by a court intervention in Delaware that blocked the pay deal earlier this year. The compensation package, approved in 2018, was deemed the largest in public markets. Brands mentioned: Tesla, Facebook.