According to Odaily Planet Daily, although Tesla shareholders voted to support the restoration of CEO Elon Musk's compensation plan at the annual meeting on June 13, a judge in Delaware has once again rejected the plan.
The judge upheld the January ruling, stating that the compensation plan is illegal because shareholders were not adequately informed of the details and Tesla's board members lack sufficient independence. However, Tesla and Musk's lawyers argue that the June shareholder vote in support paves the way for the plan's restoration.
The stock option plan was initially valued at $2.6 billion, soared to $56 billion when canceled, and is currently valued at $101.5 billion based on Monday's closing price.