ELON MUSK SAYS TESLA WILL HOLD A SHAREHOLDER VOTE TO INCORPORATE IN TEXAS AFTER DELAWARE PAY SNUB
Tesla is holding a shareholder vote on whether the company should transfer its state of incorporation to Texas. The company is currently incorporated in Delaware. The vote comes after a Delaware judge voided Elon Musk's $56 billion pay package granted in 2018. A decision to reincorporate could be challenged by shareholders as a breach of fiduciary duty according to Delaware law as it could be seen as a choice made for selfish reasons.