Huff Post
Elon Musk's s massive 2018 pay package from Tesla – which was worth $56 billion and helped catapult him to the title of richest man in the world – must be rescinded, a Delaware judge reaffirmed Monday.
Kathaleen St. J. McCormick of the Delaware Court of Chancery ruled that Tesla, which asked her to reconsider her original ruling in January, failed to prove that its compensation plan for the Tesla CEO was fair. She stuck with her original decision that the company’s board was under too much influence from Musk when it approved the massive payment in the form of stock options.
Shareholders at the electric car company voted in June to ratify Musk’s 2018 pay package. But that effort amounted to an attempt at “flipping the outcome of an adverse post-trial decision based on evidence they created after trial,” McCormick wrote Monday.
“The large and talented group of defense firms got creative with the ratification argument, but their unprecedented theories go against multiple strains of settled law,” she said.
In response to McCormick’s ruling, Musk posted on social media: “Absolute corruption.” He also called McCormick “an activist posing as a judge."
The case was adjudicated in Delaware because that’s where Tesla was incorporated until earlier this year, when Musk reincorporated in Texas.
“Never incorporate your company in the state of Delaware,” Musk posted on social media after the original January ruling.
The matter came before McCormick after a Tesla stockholder sued over the pay package in 2022, saying it was an outsized payment to make without ensuring Musk would focus on Tesla. At the time, Musk was pursuing the purchase of Twitter, which he eventually bought and renamed X.
Musk has been occupied with another calling in recent months: being President-elect Donald Trump’s right-hand man. The two are frequently present at each other’s sides and even spent Thanksgiving together at Mar-a-Lago.
Trump has also tasked Musk with co-leading his yet-to-be-created Department of Government Efficiency, or DOGE. The Tesla CEO has vowed to use his role there to reduce government spending and headcount.
Elon Musk's s massive 2018 pay package from Tesla – which was worth $56 billion and helped catapult him to the title of richest man in the world – must be rescinded, a Delaware judge reaffirmed Monday.
Kathaleen St. J. McCormick of the Delaware Court of Chancery ruled that Tesla, which asked her to reconsider her original ruling in January, failed to prove that its compensation plan for the Tesla CEO was fair. She stuck with her original decision that the company’s board was under too much influence from Musk when it approved the massive payment in the form of stock options.
Shareholders at the electric car company voted in June to ratify Musk’s 2018 pay package. But that effort amounted to an attempt at “flipping the outcome of an adverse post-trial decision based on evidence they created after trial,” McCormick wrote Monday.
“The large and talented group of defense firms got creative with the ratification argument, but their unprecedented theories go against multiple strains of settled law,” she said.
In response to McCormick’s ruling, Musk posted on social media: “Absolute corruption.” He also called McCormick “an activist posing as a judge."
The case was adjudicated in Delaware because that’s where Tesla was incorporated until earlier this year, when Musk reincorporated in Texas.
“Never incorporate your company in the state of Delaware,” Musk posted on social media after the original January ruling.
The matter came before McCormick after a Tesla stockholder sued over the pay package in 2022, saying it was an outsized payment to make without ensuring Musk would focus on Tesla. At the time, Musk was pursuing the purchase of Twitter, which he eventually bought and renamed X.
Musk has been occupied with another calling in recent months: being President-elect Donald Trump’s right-hand man. The two are frequently present at each other’s sides and even spent Thanksgiving together at Mar-a-Lago.
Trump has also tasked Musk with co-leading his yet-to-be-created Department of Government Efficiency, or DOGE. The Tesla CEO has vowed to use his role there to reduce government spending and headcount.
28 comments:
Once again using huffington post for news. Not good!
ELON DOESN’T CARE what a bunch of UNEDUCATED MEXICANS and MEXICAN-AMERICANS think; neither does the TRUMPENATOR! So take your Lone Star Card to the nearest barrio and sell it for beer and dope...now that is something you are good at!
HEY JUAN, YA PÁRALE CON ELON (EL GROFO) MUSK MAMON!!! TE VA A MANDAR A MARTE SI SIGUES CHINGANDO CABRON!!! PINCHE BIDEN SAID HE WOULD JOT PARDON PINCHE HUNTER JUAN!! HE SAID NO INE WAS ABOVE THE LAW!!! HE SAID NO WAY AM I GOING TO PARDON RHIS TURKEY!!! EL DE THANKSGIVING SI, PERO A MIJITO NO!!! MIS HUEVOS PRIETOS JUAN…. THE MAMON PARDONED HIM!!! 🎶 VOY A COMPRAR UN PERIQUITOOOO🎶 THE MAMON HUNTER WAS ASKED COMING OUT OF A PINCHE RESTAURANT IN NANTUCKET IF HIS DADDY WAS GOING RO PARDON HIM!!! THE PUTO HAD TWO SUBURBANS WITH SECRET SERVICE MAMONES WITH HIM!!! PURO PINCHE TAX DOLLARS !!! PROTECTING THIS MAMON!!! WHEN TRUMP WAS GOING THRU HIS CHINGADERAS… DEMOCRATS WANTED TO TAKE HIS SECRET SERVICE DEATAILAWAY MAMON!!! THEY SAID HE WAS A CRIMINAL AND A LIAR AND THAT NO PINCHE TAX DOLLARS SHOULD BE SPENT PROTECTING TROMPITAS CABRON!!! WHY DONT THEY TAKE PINCHE HUNTERS DETAIL AWAY?!!! HE PLEAD GUILTY, NO MAMES!!! NOW THE MAMONES ESTÁN BIEN CALLADOS…WHERE THE SEXRET SERVICE GUYS WAITING OUTSIDE THE ROOM WHEN HUNTER WAS ENCHIRIZANDO CABRONAS WHILE SMOKING THE PIPE?!!! CONTÉSTENME OJETES!! WHAT IS NEXT… IS THE WALKING CADAVER BIDEN GOING PARDON HIMSELF FOR FOR ANY MAMADAS THAT MIGHT COME UP WHEN HE IS GONE?!!! ME CAGO POR DONDE MISMO JUAN!!! GANARON LOS COWBOYS JUAN?
Elon Musk's talent is in making babies. He has 12, with different women. He's going to tell me about efficiency? Well, maybe on that realm. Government? Uh, no. BIG NO!!!
On 22 December Major-General Anthony McAuliffe, holding besieged Bastogne was called on to surrender. He replied “Nuts!” and when asked for clarification responded ‘Go to hell”.
Elon is the antichrist
Your dumbass FOX NEWS would never report this, but you're okay being ignorant. May God damn you.
Also good at porking your neglected wife, btw.
FOX News has taken your weak-ass brain, boy.
We do have some white supremacists here, but they'll never post with their real names. Cowards, cowards all of them.
Hey, MagaMoron, eat shit!!!
Israel Vazquez, Mexico's three-time junior featherweight world champion, has died after a battle with cancer, WBC president Mauricio Sulaiman said Tuesday. He was 46.
Known for his punching power and hand speed, Vazquez was one of Mexico's most celebrated boxers and shared a rivalry with compatriot Rafael Marquez, whom he faced four times.
The boxer nicknamed "El Magnifico" revealed on Nov. 10 he had sarcoma, a cancer.
Elon. Are we on a first name basis? Sounds like you have a man-crush on
Elon and “the Trumpenator”. Are you salivating now? Bringing back memories
of being sodomized as a child? It’s OK. What are your pronouns?
Sick f*ck. : (
All presidents have the authority to pardon. Trump’s Supreme Court cronies
have given American presidents almost unlimited powers. Trump has pardoned a shitload of fellow felons. There are more on the way. Biden
pardoned his son, big deal. The losers who are locked up for the Jan. 6
fiasco will be pardoned. Steve Bannon, Rudy Giuliani and Giselle
Maxwell will be next. Don’t feign like it’s the end of the world.
P.S. Using all caps is for amateurs. 🤓
It is not that she is neglected it is that he can't satisfy her. There is a difference.
CHUBBY is mushroom 🍄 size.
It's not so much the pardon but the lie to the American people. But than this wandering idiot never told the truth. It's time Hunter Biden took responsibility for his actions. He's too old to be pampered by daddy.
Afraid you'll lose your social service benefits? What Elon Musk is going to do is long over due. Too much waste in this country. Too many overlapping agencies.
Days gone by, when men were men. Today few men are left. Just look at Joe Biden the leader of the free world who is told what to do by his wife. Pura bola de mandilones !
Elon Musk is Republican so antichrist he is not. You're confused with the parties.
So does that mean you sleep with your lights on at night? There are more cartel members living among us than white supremacists. So why don't you request that they also post their names. Scared?
Cancer is a billion dollar money maker. Therefore it's cure will never be revealed. China has found a cure for diabetes but big Pharma has already said it will not be allowed in the United States. GREED!
White supremacists? They are from Ireland, Germany, Italy, etc they are not native of the land. Send them back to their homes.
What is your name?
The Messiah of browntown, he started by paying to light up down town (two blocks)and in turn he got all of boca chica FREE.
pendejetes is also non curable, inhabitants from mars refuse to give out the cure for pendejetes, they are ready to invade this world.
Thanks to Trump men will earn high salaries. With money dances the dog. Men with money: truck, business, girls, savings, parties, church member, admired and a leader. Married men can not survive without their wives.
anal cancer is also called metecoma.
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