- Taurasi unmoved by sixth sense in Olympic farewell
- China bags early Olympic golds as rain disrupts Games
- France, Fiji set up dream rugby sevens Olympic final
- Leon Marchand: the 'shrimp' who became the great French Olympic hope
- Olympic beach volleyball starts in drenching rain under Eiffel Tower
- Palestinian Olympian wore shirt showing bombed children at opening ceremony
- Covering an Olympic opening ceremony: rain, rain and memorable moments
- UNESCO adds apartheid massacre site to heritage protection list
- Djokovic sweeps into Olympics second round and potential Nadal clash
- Brazil teenager Endrick unveiled by Real Madrid
- Britain's Whitlock negotiates 'crazy' first pommel horse Olympic hurdle
- Swiatek shines at rain-swept Olympics tennis
- France suffers second day of sabotage train delays
- US hails 'productive' meeting between Blinken and China FM in Laos
- Health ministry in Hamas-run Gaza says 30 killed in school strike
- Beach volleyball starts in pouring rain at landmark Paris venue
- Root and Stokes repel West Indies after England collapse in third Test
- Upset bishops and mixed reviews for Paris Olympics ceremony
- Verstappen on top in Belgium after rainy third practice
- World number one Swiatek into second round of Olympics tennis
- Zhang urges fans to 'look at facts' of China doping furore
- Ledecky edges Titmus in Olympic 400m free heats as Peaty kickstarts campaign
- Relaxed Peaty begins bid to match Phelps' record
- Chang, Chen bag Olympic diving gold for China
- French high speed train services still disrupted after sabotage
- China takes first Olympic gold as rain disrupts Games
- Top China, US diplomats begin meeting in Laos
- First Olympic medals up for grabs as rain disrupts Games
- Epic pool rivalry lights up first day of Olympic medal action
- IOC apologises for South Korea gaffe in Olympics opening ceremony
- Bangladesh says student leaders held for their own safety
- Japan's Sado mines added to World Heritage list
- 'Windmill love' sees Dutch artist become mill operator
- US defends law forcing sale of TikTok app
- Messi out for defending champ Miami as Leagues Cup begins
- Australia bans uranium mining at Indigenous site
- Divers attempt to reach sunken Philippine oil tanker
- Trump accuses Harris of anti-Semitism in overblown speech
- Blinken set for talks with Chinese foreign minister in Laos
- Coughlin clings to lead at LPGA Canadian Women's Open
- Trump offers tech sector policy flips ahead of election
- Spacecraft to swing by Earth, Moon on path to Jupiter
- What's the fallout of Mexican drug lords' capture?
- Video game makers see actors as AI 'data,' says union on strike
- Chinese qualifier Shang to face Thompson in ATP Atlanta semis
- Concern grows as Venezuela blocks election observers
- 'Massive attack' on French rail threatens more chaos
- 'We did it!': France breathes sigh of relief after Olympics ceremony
- Blinken, in Laos, set for talks with Chinese foreign minister
- Regional concern grows as Venezuela blocks vote observers
Tesla asks shareholders to reapprove huge Musk pay deal
Tesla will ask its shareholders in June to ratify a multi-billion-dollar 2018 pay package for CEO Elon Musk that was squashed by a US court earlier this year.
In an SEC filing Wednesday, the board of directors for the US automaker said it "stands behind this pay package. We believed in it in 2018, as we asked Elon to pursue remarkable goals to grow the company. You, as stockholders, also believed in it in 2018 when you overwhelmingly approved it."
In January, a judge in Delaware Chancery Court voided Musk's compensation package, worth as much as $55.8 billion, ruling that the process leading to the astronomically valuable package was "deeply flawed" given Musk's deep ties to key board members who negotiated the package on behalf of Tesla.
In a second proposal highlighted by Chair Robyn Denholm ahead of the June 13 shareholder meeting, Tesla asked shareholders to support moving the company's state of incorporation from Delaware to Texas, which "is Tesla's home," Denholm said in the filing.
The proposals come amid a difficult stretch for Tesla, whose shares have fallen 37 percent so far in 2024 compared with about a 6.5 percent gain in the S&P 500.
Earlier this week, Tesla announced it would lay off more than 10 percent of its global workforce.
That move comes about 10 days after Tesla reported a drop in first-quarter auto deliveries in a decline seen as reflective of rising competition among electric vehicle producers and slowing demand growth in some markets.
"The proxy and shareholder meeting combined with the current state of affairs at Tesla all sets up for more fireworks over the coming months," said Wedbush analyst Dan Ives in a note.
Ives said Musk needs to address market speculation that the company is shelving plans for a mass-marketed EV at a lower price point. The much-anticipated project has often been referred to as "Model 2."
"We believe no Model 2 rollout in the next 18 months would be a disaster gamble that would likely change the growth story of Tesla the next few years," Ives said.
Shares of Tesla rose 0.7 percent in pre-market trading.
B.Shevchenko--BTB