The Texas Legislature passed a bill placing tight restrictions on rules governing the filing of shareholder proposals at Texas companies, a committee in the state’s legislature is considering legislation that would put onerous requirements on proxy advisors and Texas Governor Greg Abbott signed into law a bill that insulates companies and board from litigation.

With Elon Musk’s $56 billion pay package mired in a legal challenge, Tesla revealed in an SEC filing that it is creating a special committee to review Musk’s compensation and weigh alternative forms of payment in case his controversial package is not allowed to stand in court.

The House Financial Services Committee will mark up a series of bills May 20 including the Multi-Class Act introduced by Rep. Gregory Meeks (D-N.Y.) that would require companies with multi-class stock structures to make certain clarifying disclosures in the beneficial ownership table of their proxy or consent solicitation materials.

Although the number of Delaware-based companies in the Russell 3000 continues to rise, 2024 was the first year that more companies in this index left the state than moved their incorporation to Delaware, ISS data shows.