Renée James Wood, General Counsel of Wood and Ark Invest, took the time to analyze the extensive 200-page Delaware Court decision. Upon review, she determined that the interpretations of the decision missed several key points. Wood also stated that on behalf of their clients, ARK Invest supported Elon Musk’s compensation, along with approximately 80% of shareholders.
Despite this, a Delaware judge has overturned the decisions made by the Board and shareholders after almost five years, despite substantial debate about the incentive plan’s feasibility. In response to this, the company’s shareholders have communicated with Tesla’s Board of Directors, expressing support for changing Tesla’s state of incorporation from Delaware to Texas. Additionally, they have requested exploring options to maintain Elon Musk’s 2018 pay package.