© Reuters. FILE PHOTO: Tesla electric vehicles (EVs) fast-charge using Tesla Superchargers at a Buc-ee’s travel center and gas station in Baytown, Texas, U.S., March 18, 2023. REUTERS/Bing Guan/File Photo
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(Reuters) -Tesla Inc will move immediately to hold a shareholder vote to transfer the electronic vehicle (EV) maker’s state of incorporation to Texas from Delaware, Elon Musk said on Thursday.
A Delaware judge on Tuesday tossed out Musk’s record-breaking $56 billion Tesla (NASDAQ:) pay package, calling the compensation granted by the EV maker’s board “an unfathomable sum” that was unfair to shareholders.
Musk then launched a poll on his social media platform X asking if Tesla should change its state of incorporation to Texas. The poll had over 1.1 million votes cast, with over 87% voting in favor of the change.
“The public vote is unequivocally in favor of Texas! Tesla will move immediately to hold a shareholder vote to transfer state of incorporation to Texas,” Musk said in his latest post on X.
