Tesla Vote Won’t Guarantee Musk Gets His $56 Billion Pay Package

Even if Tesla Inc. shareholders vote later this week to ratify Chief Executive Officer Elon Musk’s $56 billion pay package, it’s unlikely to reverse a judge’s decision to nullify the 2018 compensation deal.

That’s because the June 13 vote has more symbolic weight than legal power. Shareholder approval may help Tesla with an appeal or a rehearing in a new case, but it cannot overturn Chancery Court Judge Kathaleen St. Jude McCormick’s January ruling, some legal scholars say.

“People think this is like a direct democracy — that if they vote yes to re-ratify ...