00:00It's Benzinga, and here's what's on the block.
00:03Tesla shareholders voted to ratify CEO Elon Musk's 2018 pay package worth up to $56 billion
00:09in Tesla stock options at the annual meeting.
00:12In January, a Delaware court had ordered Tesla to rescind the pay package, finding it was
00:16improperly granted by the board without proper negotiations.
00:20The vote provides a PR win for Musk but does not override the court ruling.
00:24It could help Musk's effort to get the performance options in the future.
00:28Shareholders also voted to approve moving Tesla's incorporation from Delaware to Texas,
00:32where it has its largest U.S. factory.
00:34Elon Musk, describing himself as pathologically optimistic, assured Tesla shareholders of
00:39significant advancements in developing vehicle autonomy.
00:42Tesla has not yet delivered, while competitors like Pony.ai, Didi, and Waymo have already
00:47developed and are operating commercial robo-taxi services.
00:50For all things money, visit Benzinga.com.
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