Mapping Tesla’s Road From Delaware to Texas, and Big Musk Payday

Elon Musk’s car company on Wednesday proposed to grant him the same $56 billion pay package that its shareholders approved six years ago — and that Delaware’s top business law judge shot down in January as excessive.

In a proxy filing, Tesla Inc. calls for the compensation plan to be ratified all over again, despite the judge’s decision, and also asks investors to shun Delaware and vote for Tesla to reincorporate in Texas. A special committee the company formed this year urged that the two matters be voted on together so the Texas move wouldn’t be seen as ...