What's Next After Tesla CEO Elon Musk's Pay Package Vote?

Tesla shareholders voted to reinstate CEO Elon Musk's massive pay package. Here's what you need to know.

closeup of Tesla CEO Elon Musk in a suit at Gigafactory in Berlin
(Image credit: PATRICK PLEUL/POOL/AFP via Getty Images)

Tesla (TSLA) stock popped this week as investors awaited then digested the results of a shareholder vote that ultimately reinstated CEO Elon Musk's estimated $56 billion pay package. The vote also gave shareholder approval to the electric vehicle maker moving its state of incorporation to Texas from Delaware.

Musk's compensation package was approved in 2018 and was tied to specific performance milestones, including a significant increase in Tesla's market cap.

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Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.