Elon Musk and Tesla were sued by shareholders who accused them of securities fraud for concealing the significant risk that the company's self-driving vehicles, including the Robotaxi, were dangerous.

The new package comes just six months after a judge ordered the company to revoke his $56 billion pay package.

Shares of Tesla Inc. were climbing Monday after the electric-vehicle giant’s board of directors approved Chief Executive Elon Musk’s pay package, which includes an award of $29 billion worth of stock.