Tesla Jumps After Musk Says Shareholders Backed Pay Package (3)

Tesla Inc. shares jumped after Elon Musk said shareholders voted “by wide margins” in favor of re-approving his compensation package and moving the company’s state of incorporation to Texas.

The chief executive officer posted voting results on X, the social media site he owns, hours before shareholder voting endedand ahead of Tesla’s annual meeting Thursday in Austin. He shared two charts suggesting the proposals had been approved. Tesla stock gained as much as 6.4% at 9:35 a.m. in New York.

Musk and Tesla’s board have spent the last two months rallying support for the measures, putting particular emphasis on ...