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Tesla releases updated proxy for Sept. 22 Shareholder Meeting

Next-gen Tesla Roadster and Cybertruck at Hawthorne Design Center, 2019 Tesla Holiday Party (Credit: giftedkick_/Instagram)

Tesla (NASDAQ: TSLA) will hold its 2020 Annual Shareholder Meeting on Tuesday, September 22, 2020, at 2:30 p.m. Pacific Time, at the company’s Fremont Production Plant located at 5500 Fremont Blvd, Fremont, CA 94538.

In a Securities and Exchange Commission proxy statement filing on August 14, Tesla outlined seven key agenda items to be voted on by company shareholders, which have not changed from the previously sent out document. Tesla Board’s vote recommendations are also included.

  1. A Tesla proposal to elect three Class I directors to serve for a term of three years or until their respective successors are duly elected and qualified (“Proposal One”). – “FOR”
  2. A Tesla proposal to approve executive compensation on a non-binding advisory basis (“Proposal Two”). – “FOR”
  3. A Tesla proposal to ratify the appointment of PricewaterhouseCoopers LLP as Tesla’s independent registered public accounting firm for the fiscal year ending December 31, 2020 (“Proposal Three”). – “FOR”
  4. A stockholder proposal regarding paid advertising, if properly presented (“Proposal Four”). – “AGAINST”
  5. A stockholder proposal regarding simple majority voting provisions in our governing documents, if properly presented (“Proposal Five”). – “AGAINST”
  6. A stockholder proposal regarding reporting on employee arbitration, if properly presented (“Proposal Six”). – “AGAINST”
  7. A stockholder proposal regarding additional reporting on human rights, if properly presented (“Proposal Seven”). – “AGAINST”

All stockholders as of the close of business on July 31, 2020, are eligible to attend and cast their votes at the 2020 Annual Meeting from the Fremont Production facility located at 5500 Fremont Blvd, Fremont, CA 94538. A live stream of the meeting will be made available.

Tesla stated that it would take into account issues that may be related to the COVID-19 pandemic, which has already delayed the event once. Check-in procedures will be specified closer to the event.

Investors who are unable to attend the event physically can cast their votes through the internet, by telephone, or by mail. The final voting results will be published in a Form 8-K, which will be filed with the SEC following the shareholder meeting. The document is expected to be accessible from the SEC’s website within four business days of the event.

Tesla also advises any Shareholders who previously voted using the materials that were sent in the past to re-submit their votes in accordance with the updated proxy statement.

The full details of Tesla’s upcoming 2020 Annual Shareholder Meeting could be accessed here.

Disclosure: I have no ownership in shares of TSLA and have no plans to initiate any positions within 72 hours.

H/T: @KelvinYang on Twitter

Tesla releases updated proxy for Sept. 22 Shareholder Meeting
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