Tesla CEO Elon Musk. Allison Robbert/Pool/Reuters/File
At the time, McCormick ruled in favor of the main shareholder in the suit who challenged the package, arguing that Musk and the Tesla board “bore the burden of proving that the compensation plan was fair, and they failed to meet their burden.”
McCormick agreed with the argument that the board is too close to Tesla’s CEO, noting that even Musk admitted that he only “negotiated against himself” regarding his own compensation.
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