Delaware
Elon Musk cannot keep Tesla pay package worth more than $55 billion, Delaware judge rules
In trial testimony in November 2022, Musk denied that he dictated terms of the compensation package or attended any meetings at which the plan was discussed by the board, its compensation committee, or a working group that helped develop it.
McCormick determined, however, that because Musk was a controlling shareholder with a potential conflict of interest, the pay package must be subject to a more rigorous standard.
“The process leading to the approval of Musk’s compensation plan was deeply flawed,” McCormick wrote in the colorfully written 200-page decision. “Musk had extensive ties with the persons tasked with negotiating on Tesla’s behalf.”
McCormick specifically cited Musk’s long business and personal relationships with compensation committee chairman Ira Ehrenpreis and fellow committee member Antonio Gracias. She also noted that the working group working on the pay package included general counsel Todd Maron who was Musk’s former divorce attorney.
“In fact, Maron was a primary go-between Musk and the committee, and it is unclear on whose side Maron viewed himself,” the judge wrote. “Yet many of the documents cited by the defendants as proof of a fair process were drafted by Maron.”
McCormick concluded that the only suitable remedy was for Musk’s compensation package to be rescinded. “In the final analysis, Musk launched a self-driving process, recalibrating the speed and direction along the way as he saw fit,” she wrote. “The process arrived at an unfair price. And through this litigation, the plaintiff requests a recall.”
Greg Varallo, a lead attorney for the shareholder plaintiff, praised McCormick’s decision to reverse the “absurdly outsized” Musk pay package for Musk.
“The fact that they lost this in Delaware court, it’s a jaw dropper,” said Wedbush Securities analyst Dan Ives. “It’s unprecedented, a ruling like this. I think going in investors thought it was just typical legal noise and nothing was going to come out about it. The fact that they went head to head with Tesla and Musk and the board and voided this, it’s a huge legal decision.”
During his trial testimony, Musk downplayed the notion that his friendships with certain Tesla board members, including sometimes vacationing together, meant that they were likely to do his bidding.
The plan called for Musk to reap billions if Tesla hit certain market capitalization and operational milestones. For each incidence of simultaneously meeting a market cap milestone and an operational milestone, Musk, who owned about 22% of Tesla when the plan was approved, would get stock equal to 1% of outstanding shares at the time of the grant. His interest in the company would grow to about 28% if the company’s market capitalization grew by $600 billion.
Each milestone included growing Tesla’s market capitalization by $50 billion and meeting aggressive revenue and pretax profit growth targets. Musk stood to receive the full benefit of the pay plan, $55.8 billion, only by leading Tesla to a market capitalization of $650 billion and unprecedented revenues and earnings within a decade.
Tesla has achieved all twelve market capitalization milestones and eleven operational milestones, providing Musk nearly $28 billion in stock option gains, according to a January post-trial brief filed by the plaintiff’s attorneys. The stock option grants are subject to a five-year holding period, however.
Defense attorney Evan Chesler argued at trial that the compensation package was a “high-risk, high-reward” deal that benefitted not just Musk, but Tesla shareholders. After the plan was implemented, the value of the company, based in Austin, Texas, climbed from $53 billion to more than $800 billion, having briefly hit $1 trillion.
Chesler also said Tesla made sure that the $55 billion compensation figure was included in the proxy statement because the company wanted shareholders to know that “this was a heart-stopping number that Mr. Musk could earn.”
Delaware
Who governs matters: Why school board elections deserve your attention
School board elections are one of the highest-leverage, lowest-participation decisions in Delaware. Turnout is low. Margins are small. In some cases, candidates run without a real contest. When voters do not engage, leadership is not selected. It is decided by default. When governance is decided by default, the system performs accordingly.
It’s clear that when residents fail to vote, it can have consequences — ones that most people recognize, but rarely connect to the ballot box. It shapes whether schools are focused on clear priorities or pulled in competing directions. It determines whether resources are invested in what improves student outcomes or spread thin. Those decisions show up in real ways: in the preparedness of students, the confidence of families, and the strength of Delaware’s workforce and economy.
In 2024, fewer than 5% of eligible voters cast ballots in Delaware school board elections, even as concern about outcomes, funding, and district leadership remained high across every sector of public life. The disconnect between what communities demand and how they participate is one of the most significant, and most solvable, barriers to progress in our state.
Data from the 2026 Delaware Opportunity Outlook reinforce this disconnect. A majority of Delawareans believe school board members have a direct influence on the quality of K–12 education, yet far fewer report understanding how improvement efforts are being carried out, or how decisions are made at the local level. In other words, people believe boards matter, but are not consistently using the one mechanism they have to influence who serves and how decisions are made.
What governing actually requires
A strong board member asks clear, outcome-focused questions and expects specific answers. They connect decisions to priorities, work through tradeoffs with colleagues, and ensure decisions are understood before the board moves forward. They listen for whether information reflects progress or activity, and press for clarity when it does not.
These are not intuitive responsibilities. They require preparation. School board governance is often treated as something individuals can step into without training, but these are complex roles that involve setting priorities, interpreting data, making tradeoffs, and ensuring decisions lead to results over time.
The Delaware Opportunity Outlook suggests that this is not how the role is widely understood. While Delawareans recognize that school boards influence the quality of education, far fewer identify training and professional preparation as essential.
That gap has direct consequences. As the state advances new priorities, the effectiveness of those efforts will depend on whether local board members are prepared to implement them, monitor progress, and make results visible.
Delaware’s moment
Delaware has established a clear direction for public education: defined priorities, a statewide literacy commitment, and a funding reform that will place significant new responsibilities on local boards. Plans set direction. Boards determine whether those plans turn into results.
What happens next will not be determined by those plans alone. It will be determined by how effectively school boards translate those priorities into decisions, how consistently they track progress, and whether they make results visible to the public.
Candidate evaluation
Evaluating a candidate is straightforward: Can they name a small number of district priorities and explain why those matter? Can they describe what data they would review regularly and how they would use it? Can they explain how resources should align to outcomes and what they would do if results do not improve? Candidates who can answer those questions demonstrate an understanding of the role. Those who cannot speak to governance beyond the issues that brought them to the race may find the role more demanding than they anticipated.
Make your voice heard
Voting in a school board election is one of the few places where individual participation has a direct and immediate impact on how the system performs. School board elections are decided by small numbers of voters. Your decision to engage, or not, determines who governs. Choosing not to participate is not neutrality. It is a choice, and it carries the same weight as the vote itself.
Today, a decision will be made about who governs Delaware’s schools. You can be part of that decision, or it will be made without you. Either way, the results will show up in classrooms, in communities, and in the long-term strength of this state.
Find out who is running. Evaluate them on the work the role requires, not only on the positions they hold. Vote, and encourage others to do the same.
For more details about voting in today’s elections, visit First State Educate’s 2026 School Board Elections page.
Read more from Spotlight Delaware
Delaware
Pedestrian dies after being struck by vehicle in Delaware County
Monday, May 11, 2026 10:57AM
TRAINER BOROUGH, Pa. (WPVI) — A person has died after being hit by a vehicle in Delaware County.
It happened around 2:45 a.m. on Monday in the 4300 block of West 9th Street in Trainer Borough.
Police and fire crews were called to the Parkview Mobile Home community for reports of a pedestrian hit by a car.
Officials say the victim went into cardiac arrest immediately after the crash.
The investigation into the crash is ongoing.
Copyright © 2026 WPVI-TV. All Rights Reserved.
Delaware
Delaware State Police investigation shooting in Laurel – 47abc
LAUREL, Del. — Delaware State Police are investigating a shooting in Laurel that left a 19-year-old man injured Friday afternoon and resulted in firearm charges against a Georgetown man, authorities said.
Troopers responded around 3:20 p.m. Friday to TidalHealth Nanticoke after the victim arrived at the hospital in a personal vehicle with non-life-threatening gunshot wounds, according to police. Investigators said the man had been shot in front of a residence on Portsville Road near Randall Street in Laurel.
Police said the victim was transported to the hospital in a blue Mazda 3 driven by 20-year-old Alexison Amisial of Georgetown. Troopers later located the vehicle and Amisial at First Stop Gas Station, where investigators said he was found carrying an untraceable firearm concealed in his waistband.
Amisial was taken into custody without incident and charged with carrying a concealed deadly weapon and possession of an untraceable firearm, both felonies, police said. He was arraigned in Justice of the Peace Court 3 and released on a $3,500 unsecured bond.
The Delaware State Police Troop 4 Criminal Investigations Unit continues to investigate the shooting. Authorities are asking anyone with information to contact Detective R. Mitchell at 302-752-3794 or Delaware Crime Stoppers at 800-847-3333.
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