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Judge Declines to Reinstate Elon Musk's Tesla $56 Billion Pay Package

Benzinga ·  Dec 3 07:11

A Delaware judge Monday once again struck down a 2018 compensation plan for CEO Elon Muskof$Tesla (TSLA.US)$-- news that comes six months after Tesla shareholders approved the pay package for a second time.

A 2018 pay compensation plan provided several milestones that seemed extremely hard for Musk and Tesla to hit, with high payouts if he could accomplish the improbable.

But Musk hit the milestone accomplishments from the 2018 incentive plan which led to options paid out worth around $56 billion, as reported by Bloomberg.

However, Delaware Chancery Court Judge Kathaleen McCormick ruled in January that the pay package would be voided due...

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