Tesla's annual shareholder meeting in Austin, Texas on June 13 will see a vote on Elon Musk's compensation package and the re-incorporation of the company.
Tesla chair Robyn Denholm sold over $50 million in stock this year cnbc.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnbc.com Daily Mail and Mail on Sunday newspapers.
Tesla and Elon Musk are seizing upon an obscure provision in corporate law to attempt to restore Musk's $56 billion pay package, in an untested move that could again mire the company in litigation, legal experts said. The electric vehicle maker on Wednesday proposed putting Musk's 2018 pay deal to a shareholder vote, even though a Delaware judge voided it in January. Tesla is using a little-known section of Delaware's corporate law that lets companies fix procedural defects that would otherwise nullify their boardroom decisions.