Title: Tesla Shareholders Vote on Elon Musk's $44.9 Billion Pay Package

In a crucial decision that could shape the future of electric vehicle giant Tesla, shareholders are currently voting on whether to restore CEO Elon Musk's massive $44.9 billion pay package. The package, which was previously thrown out by a Delaware judge in January, holds the potential to ensure Musk's continued presence at the helm of the company he helped transform into a global leader in electric vehicles.

Shares of Tesla experienced an uptick on Thursday following the release of a regulatory filing stating that stockholders are voting in favor of approving Musk's compensation package by a significant margin. In the filing submitted to the U.S. Securities and Exchange Commission, Tesla also published Musk's own posts on his social media platform, X, which displayed charts indicating shareholders' support for his pay package. The filing also included a proposal to relocate Tesla's legal headquarters from Delaware to Texas.

This vote comes after the pay package was originally rejected by Chancellor Kathaleen St. Jude McCormick, who deemed that Tesla had deceived shareholders when the all-stock compensation plan was approved in 2018. As a result of the court ruling, Musk was deemed ineligible to receive the landmark package, which was initially valued at nearly $56 billion before a decline in Tesla's stock price this year.

Legal experts have raised concerns about Tesla releasing vote totals while balloting is still in progress, as it could potentially pose issues for the company. This may be the reason behind Tesla's decision to file the disclosure with the SEC, as the regulatory body is likely to investigate the matter further.

Shareholders still have the opportunity to cast their votes online throughout Thursday, with an in-person voting option available at Tesla's annual shareholders meeting in Austin, Texas. Additionally, shareholders have the ability to modify previously submitted votes.

Charles Elson, a retired professor and founder of the corporate governance center at the University of Delaware, stated that publicly announcing vote totals before voting ends is highly unusual and can influence the outcome. Erik Gordon, a law and business professor at the University of Michigan, also cautioned that Musk's posts on social media could face legal scrutiny and potential securities law violations if found to be inaccurate.

The SEC declined to comment on the matter, and no official response has been received from Tesla thus far.

Regardless of the outcome, there remains uncertainty surrounding Musk's future plans. The CEO has previously hinted at the possibility of taking his artificial intelligence (AI) research to one of his other companies or even stepping away from Tesla if shareholders reject his pay package. With approval, Musk aims to focus on expanding Tesla's ventures into AI and robotics, particularly autonomous vehicles, which he believes to be the company's future. Musk's xAI recently secured $6 billion in funding for the development of artificial intelligence.

As voting continues, all eyes are on Tesla shareholders as they shape the course of the company and Elon Musk's role within it.