Tesla CEO Elon Musk has secured enough shareholder votes to have his 2018 stock option compensation package approved. Shareholders also approved the company’s decision to re-incorporate of Tesla in Texas, moving it away from the state where Musk’s pay package was struck down: Delaware.
Shareholders present at the company’s annual meeting Thursday held at Tesla’s Texas gigafactory, cheered and gave a standing ovation when general counsel Brandon Ehrhart announced the results of the vote. The margin of victory was not immediately clear.
“I just want to start off by saying: Hot damn, I love you guys,” Musk said as he leapt around on the stage Thursday. “I think we’re not just opening a new chapter for Tesla, we’re starting a new book.”
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