Tesla is asking its shareholders to reinstate CEO Elon Musk's pay package and to move the company's incorporation from Delaware to Texas, months after a judge rejected the chief executive's $56 billion compensation.

<div><picture><source media="(max-width: 767px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2022/12/343/192/2022-12-09T095432Z_1_LYNXMPEIB80BR_RTROPTP_4_TESLA-CHINA-OUTPUT-e1670618411422.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2022/12/686/384/2022-12-09T095432Z_1_LYNXMPEIB80BR_RTROPTP_4_TESLA-CHINA-OUTPUT-e1670618411422.jpg?ve=1&amp;tl=1 2x"> <source media="(min-width: 768px) and (max-width: 1023px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2022/12/672/378/2022-12-09T095432Z_1_LYNXMPEIB80BR_RTROPTP_4_TESLA-CHINA-OUTPUT-e1670618411422.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2022/12/1344/756/2022-12-09T095432Z_1_LYNXMPEIB80BR_RTROPTP_4_TESLA-CHINA-OUTPUT-e1670618411422.jpg?ve=1&amp;tl=1 2x"> <source media="(min-width: 1024px) and (max-width: 1279px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2022/12/931/523/2022-12-09T095432Z_1_LYNXMPEIB80BR_RTROPTP_4_TESLA-CHINA-OUTPUT-e1670618411422.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2022/12/1862/1046/2022-12-09T095432Z_1_LYNXMPEIB80BR_RTROPTP_4_TESLA-CHINA-OUTPUT-e1670618411422.jpg?ve=1&amp;tl=1 2x"> <source media="(min-width: 1280px)" srcset="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2022/12/720/405/2022-12-09T095432Z_1_LYNXMPEIB80BR_RTROPTP_4_TESLA-CHINA-OUTPUT-e1670618411422.jpg?ve=1&amp;tl=1, https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2022/12/1440/810/2022-12-09T095432Z_1_LYNXMPEIB80BR_RTROPTP_4_TESLA-CHINA-OUTPUT-e1670618411422.jpg?ve=1&amp;tl=1 2x"> <img src="https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2022/12/931/523/2022-12-09T095432Z_1_LYNXMPEIB80BR_RTROPTP_4_TESLA-CHINA-OUTPUT-e1670618411422.jpg?ve=1&amp;tl=1" alt="Elon Musk gives a speech in Shanghai" width="100%" height="auto"></picture></div> <div><p><span>Tesla Inc CEO Elon Musk speaks at an opening ceremony for Tesla China-made Model Y program in Shanghai, China, on January 7, 2020.&nbsp;</span><span> (REUTERS/Aly Song/File Photo / Reuters Photos)</span></p></div>

Tesla shareholders voted to approve Musk's pay package in 2018, but a Delaware judge voided it in January, siding with investors that sued to challenge the compensation package, which is the largest ever for a U.S. executive.

<i>This is a developing story and will be updated.</i>

Electric vehicle giant Tesla is asking its shareholders to approve CEO Elon Musk's pay package again after it was rejected by a Delaware judge, and to move the company to Texas.{ai:summary}<p>Tesla seeks approval from shareholders to reinstate CEO Elon Musk's pay package and to relocate incorporation to Texas from Delaware after judge rejects $56 billion compensation. Musk's 2018 pay package was voided by a Delaware judge in January following a lawsuit by investors. #economy</p>

Tesla asks shareholders reinstate Elon Musk's pay, move to Texas

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