Elon Musk has stated that votes among Tesla shareholders regarding a record-breaking payment to the billionaire head and a proposal to shift the company's legal base to Texas are "currently passing by wide margins".
The car manufacturer's stakeholders have been voting on a series of propositions, one of which could hand the multi-billionaire chief executive a landmarks pay deal worth about $56billion (£43.8billion) that was initially agreed in 2018.
A verdict on the vote will likely be announced later this Thursday. Earlier in the year, a Delaware judge, where Tesla is registered, nullified the payment agreement following a lawsuit filed by an investor on that matter.
The judge made a legal judgement declaring that the total sum was unjust, and the procedure used to reward it to Mr Musk conducted by a board under his control was labelled as "deeply flawed". Tesla labelled that ruling "inconsistent with the will of the stockholders", bringing the agreement back for another vote, together with a proposal to consider relocating the company's legal headquarters outside Delaware.
The automobile producer has argued that Mr Musk is worthy of the remuneration because of his vital role in the firm's success. He has enabled the firm to hit high-reaching objectives via his leadership, making this a necessary agreement to secure his dedication to the company.
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Mr Musk also reins over other enterprises including SpaceX and social media platform, X, previously known as Twitter. Despite the vote's success, Mr Musk could still encounter legal obstacles regarding his pay package. Some legal experts have pointed out that it's uncertain if the Delaware court, which previously blocked the deal, would accept the new vote's outcome as it isn't legally binding.
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