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DETROIT — Tesla shareholders voted Thursday to restore CEO Elon Musk 's record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the electric vehicle maker.The favorable vote doesn’t necessarily mean that Musk will get the all-stock compensation anytime soon.
The vote, he said, is interesting from a public perception standpoint, but “in my view it does not affect the ruling.”John Lawrence, a Dallas-based lawyer with Baker Botts who defends corporations against shareholder lawsuits, agreed the vote doesn’t end the legal dispute and automatically give Musk the stock options. But he says it gives Tesla a strong argument to get the ruling overturned.
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