Tesla has set a date for its 2022 annual shareholder meeting. The manufacturer will convene shareholders on Thursday, August 4 at Tesla's new headquarters in Austin, Texas, in the Giga Texas building, where a vote on a possible stock split will take place.
Tesla has set a date for the Annual Shareholders' Meeting (ASM), although, after a recent Form 10-K/A filing, a date was expected to be set later. On May 3, Tesla, via its official Twitter account, announced that the meeting will take place on Thursday, August 4. The event will take place at the manufacturer's new headquarters in Austin, in the Giga Texas building, which was recently attended by about 15,000 guests for the factory's launch ceremony.
At the ASM, Tesla shareholders are expected to vote on the stock split. The details of the split have not yet been determined. The last time the manufacturer's share split was in August 2020. Tesla justified the split by making them more accessible to employees and investors. At that time, there was a 5:1 split. Now the cost of the company's shares fluctuates around $900 - $1,000 per share, which is also a high price for a wide range of investors. A likely stock split later this year will make them more affordable.
On May 2, Tesla filed Form 10-K/A with the US Securities and Exchange Commission (SEC). In the statement, the manufacturer indicated that it would not be able to file a proxy statement until sometime later this year, without providing a specific timeline. The manufacturer did not specify a submission deadline, but indicated that the submission would be no later than the 120th day after the end of the last fiscal year. Tesla has faced a deadline for filing its shareholder proxy on April 30 following the fiscal year-end of December 31, 2021.
“We currently expect that our definitive proxy statement for the 2022 annual meeting of stockholders will be filed later than the 120th day after the end of the last fiscal year.”
On March 28, 2022, Tesla announced plans to seek shareholder approval “for an increase in the number of authorized shares of common stock through an amendment to the Company's Amended and Restated Certificate of Incorporation in order to enable a stock split of the Company's common stock in the form of a stock dividend. Tesla's Board of Directors has approved the management proposal, but the stock dividend will be contingent on final Board approval.”
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