Musk Court Showdown Over $56 Billion Pay Vote Set for Aug. 2

Elon Musk and the investor who sued to invalidate his $56 billion Tesla Inc. pay package will square off in court Aug. 2 over a shareholder vote re-approving the largest ever CEO compensation deal.

The judge who struck down Musk’s pay package, Chancellor Kathaleen St. J. McCormick, confirmed the hearing date Thursday, three days after presiding over legal arguments in Delaware’s Chancery Court on the bid for a roughly $7 billion payout by the attorneys who won the case.

Musk and the company formally asked the judge to reinstate the compensation deal in a July 1 court filing, saying the ...