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[hfe_template id='11223'] [ad_1] Tesla shareholders on Thursday voted to restore CEO Elon Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year. Vote totals were not immediately announced. The favorable vote doesn't mean CEO Musk will get the all-stock compensation anytime soon. The package is likely to remain tied up in the Delaware Chancery Court for months as Tesla appeals the rejection. The court ruled in January that Musk essentially controlled the Tesla board when it approved the package in 2018, and that it failed to fully inform shareholders who approved it the same year. Tesla has said it would appeal, but asked shareholders to reapprove the package at Thursday's the company's annual meeting in Austin, Texas. THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below. Tesla shareholders are charting the future of the electric vehicle company Thursday as they wrap up voting whether or not to...

[hfe_template id='11223'] [ad_1] Tesla shareholders are voting to approve a $56 billion pay package for Elon Musk and to move the electric vehicle maker's legal home to Texas, Musk said on social media platform X on Wednesday, adding that passage was by wide margins. A yes vote gives the electric carmaker more ammunition in a Delaware court, where a judge voided the 2018 pay package plan, which at the time was the largest in U.S. corporate history, saying the board was "beholden" to CEO Musk. It also marks a massive win for Musk and the board, who have put their credibility on the line to gain shareholder approval, despite opposition from major investors Glass Lewis and Institutional Shareholder Services (ISS). "Thanks for your support!!" Musk said in his post on X. The result will be announced at a meeting at Tesla's headquarters in Texas at 4:30 pm (2130 GMT) on Thursday. A person familiar with the preliminary voting tally said a combinati...