There was a foolish quantity of drama within the run-up to Tesla‘s annual shareholder assembly on Thursday. The corporate is ready to carry a vote on “re-ratifying” the $56 billion reimbursement package deal awarded to Elon Musk in 2018, which used to be struck down through a Delaware Chancery Court docket pass judgement on previous this yr. It’ll additionally dangle a vote whether or not the corporate will trade the positioning the place it’s integrated from Delaware to Texas.
A few of Tesla’s largest boosters are calling at the corporate’s “retail army” of shareholders to vote in choose of each, however with particular focal point on Musk’s reimbursement. It’s no longer transparent what tangible impact the end result of both vote could have. However Tesla executives and workers — together with some who principally by no means put up on social media — are merely begging for votes.
Around the breathless longform posts, Areas audio conferences, podcasts and myriad different calls to motion, the focal point has been skilled on the concept that Musk is owed this reimbursement as a result of he hit the goals agreed to on the outset. “A deal is a deal,” Tesla posted to its CEO’s social media platform X.
But, virtually nobody is discussing the substance of chancellor Kathaleen McCormick’s January ruling and its dominant theme: Musk holds such a lot sway over Tesla and its board of administrators that there used to be no considerable negotiation when the corporate hammered out this maintain him in 2017-2018.
As an alternative, there were accusations from the Tesla trustworthy of her being a “radical activist judge” — accusations which might be simply defanged as you learn thru her exam of the proof of the case.
So, some homework then! To the Tesla lovers, haters, shareholders and rubberneckers, right here it’s once more, embedded beneath. McCormick’s 201-page opinion is a radical however lucid learn. It’s price brushing up on it once more earlier than the vote takes position. On the very least, it’s a primer for the prison battles which might be certain to proceed after Thursday’s vote.
Tornetta v. Musk Post-Trial Opinion through Sean O’Kane on Scribd
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