Some proxy advisers recommended voting against (Il Sole 24 Ore Radiocor) - New York, 14 Jun - Elon Musk's 56-billion-dollar pay package was backed by around 77% of votes at yesterday's Tesla annual shareholder meeting, a filing with the US market regulator SEC said.

Yesterday Tesla shares rose after the Tesla CEO said in a post on X, the social media platform he owns, shareholders had voted 'by wide margins' to back his pay package.

Some proxy advisers had recommended shareholders vote against the proposal, calling it excessive.

The package was thrown out earlier this year by a Delaware judge who described it as "unfathomable".

The approval by shareholders does not resolve the lawsuit in the Delaware court which some experts have said could drag on for months.

Tesla shares were up nearly 2% in premarket trading.

AAA-Sje

(RADIOCOR) 14-06-24 14:57:47 (0391) 5 NNNN