Tesla's Legal Team Dismisses 'Rank Speculation' of Challenging Judge's Ruling on Musk's Pay

Delaware Judge Kathaleen McCormick said she feels assured that Tesla would not use its 2024 Annual Stockholders’ Meeting to challenge her decision to rescind Elon Musk's 2018 compensation package. Tesla's legal team said such claims were "rank speculation" and that Delaware would retain jurisdiction over the dispute. Proposals at the 2024 meeting include ratifying Musk's 2018 plan and reincorporating Tesla from Delaware to Texas. Musk's compensation package was agreed upon when Tesla's stock price was under $20. Despite a drop from its peak value of over $1 trillion, Tesla's current market valuation remains substantially higher than when Musk's pay package was finalized. All the targets set for this package have been successfully met.