According to Odaily Planet Daily, although Tesla shareholders voted in favor of restoring CEO Elon Musk's compensation plan at the annual meeting on June 13, a Delaware judge once again rejected the plan.
The judge upheld a January ruling that the compensation plan was illegal because shareholders were not fully informed of the details and Tesla's board members were not independent enough. However, Tesla and Musk's lawyers said a shareholder vote in June paved the way for the plan to be reinstated.
The stock option package was initially worth $2.6 billion, surged to $56 billion when it was canceled, and is now worth $101.5 billion based on Monday's closing price.
