Elon Musk attends the America First Policy Institute (AFPI) Gala at Mar-A-Lago

Elon Musk attends the America First Policy Institute (AFPI)  Gala at Mar-A-Lago in Palm Beach, Florida
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Elon Musk attends the America First Policy Institute (AFPI)  Gala at Mar-A-Lago in Palm Beach, Florida,  USA

WILMINGTON, Del., Dec 2 (Reuters) - Tesla  (TSLA.O) is opening a new tab  and cannot  offer Elon Musk $56 billion  in compensation despite  shareholders voting in  favor of the  company's CEO pay  deal, a Delaware judge ruled on  Monday. Here's a look at what could  happen next for Tesla and its billionaire founder, who is still  waiting for a  big payout from the company:
WHAT DOES MUSK  WANT? Musk told a special committee of  Tesla's board  shortly after a judge  threw out his compensation in January that he wanted a similar-sized replacement package, according to a securities  filing. Additionally, earlier this year he said on his social media platform X that he wanted a larger stake in Tesla or  could develop some products outside the company.  Elon Musk's other companies include  the space shuttle company SpaceX and Neuralink, which develops brain  implants. TESLA MAY APPEAL THE  DECISION
Musk and Tesla's board  can appeal and try to  overturn the  decision in the Delaware Supreme Court, a process that  usually takes  about a  year.
TESLA may develop a new plan
Tesla's board could  develop a new  compensation package, although  it could be very  expensive. The original plan, agreed by Musk and the company in 2018,  gave him stock options if the company  met very  ambitious performance and financial  objectives. The stock options  allow Musk to buy Tesla  shares at 2018  levels. Advertisement · Scroll to  continue
Tesla booked a $2.6 billion  cost when the 2018 plan went into effect. The company said a replacement plan for the same cost today would likely be less than 10% of the size of the 2018  plan.
Tesla could offer Musk the same  $304 million  in stock options  at the same $23.34  strike price used in the 2018  plan if shareholders wanted to  contest that,  which they would have to  file a lawsuit in Texas, where the company reincorporated this  year. Delaware Cancer Court.

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