TECH - Tesla Bull Gary Black Sees Elon Musk's $56B Pay Package Pass 'Easily' At Shareholder Meeting; Expects Stock To Jump 3-5% Over The Next Few Days | Benzinga
Future Fund Managing Partner Gary Black believes Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk‘s $56 billion pay package will be passed “easily” at the annual shareholders’ meeting on Thursday given a majority of shareholders have voted in favor of it yet again.
What Happened: “I cannot see DE Chancery Court Judge McCormick trying a second time to overturn the will of TSLA shareholders who again approved by a 3:1 margin Elon's 2018 comp plan…,” Black said in a post on social media platform X, formerly Twitter.
Black’s comments come on the heels of Musk announcing that a majority of shareholders who have voted thus far voted in favor of his package and moving Tesla’s state of incorporation to Texas from Delaware. He added that the two resolutions are “currently passing by wide margins.”
However, the final results of the vote will only be announced at the shareholders’ meeting at Tesla’s headquarters scheduled for 4:30 p.m. ET, June 13.
Musk’s pay package in question was rescinded by a Delaware court earlier ...