(Reuters) -Tesla shareholders are voting to approve a $56 billion pay package for Elon Musk and to move the electric vehicle maker's legal home to Texas, Musk said on social media platform X on Wednesday, adding that passage was by wide margins.
Shareholders of the electric-car maker are voting on a proposal to ratify CEO Musk's 2018 incentive package, valued at up to $56 billion at the time and the largest in U.S. corporate history, after a Delaware judge voided the plan approved by its board "beholden" to Musk.
The result will be announced at a meeting on Thursday.
A person familiar with the preliminary tally confirmed Musk's post, and said that a combination of big institutional investors and retail investor got the 'yes' result over the line.
Shareholders, however, are allowed to change their vote up to the start of the annual meeting.