No. Musk is going to move the incorporation state of Tesla from Delaware to Texas--and when there will reinstate the pay package.
Test this sometime: Ask any lawyer to follow the chain of reasoning of a third party at some point in history. They can not do it. They will interrupt with bits of irrelevant law from today that would not have applied at that time.
In this case with Elon Musk's payment from Tesla, it was reasonable at the time ot was agreed to.
Tesla was more likely to go bankrupt than to become the behemoth it is today, so a payment in all future stock would be much higher than a payment in cash due to the risk Musk would never get paid or would be paid in almost worthless stock.
At the time this deal was agreed to Elon Musk was seen as a genius billionaire, without the stigma of drugs, irrational tweets, failing to grow Twitter, and federal fines for misconduct that he has today.
At the time that pay package was agreed to, it was reasonable, but it would be ludicrous today.
Sub-sapient attorneys lack the mental abilities to comprehend the difference between what was reasonable then and what would be a reasonable deal today.
Attorneys also lack the integrity to live by deals after circumstances change.
What rubbish...It was *NEVER* reasonable. It is a public company, DIRECTORS RUN THE COMPANY ON BEHALF OF ALL SHAREHOLDERS!
What is it about Americans who love DICTATORS?
It is everything from professional sports team ownership to combining company Chairmanship and CEO roles in the same person.
One share one vote, you know democracy.
After the Tweets about privatising Tesla and "we have the financing" he was removed from the Chairman's role and fined $20 million. He should have been banned from an Executive roll of any listed company.
The man is a arsewipe.