Latest news with #proxy statement
CTV News
4 days ago
- Automotive
- CTV News
Tesla to hold annual shareholder meeting in November
Tesla will hold its annual shareholder meeting on Nov. 6, the Elon Musk-led automaker said on Thursday, a day after a group of prominent shareholders urged the company to set a date for the meeting due to legal obligations. The board has also set July 31 as the new deadline for the submission of shareholder proposals to be included in the proxy statement. The company had said in April that it would file its annual proxy statement later than expected and that the board had formed a special committee to consider some compensation matters involving Musk. Last year, Tesla held its annual meeting in June, where shareholders approved Musk's controversial US$56 billion compensation package despite a Delaware court ruling that had previously voided it. The company last year moved its incorporation from Delaware to Texas and was close to missing a deadline under the state's law, which allows investors to seek legal option in case a company fails to hold a shareholder meeting within 13 months of holding a previous one. Tesla investors are coming to terms with a series of events, including Musk's public feud with U.S. President Donald Trump, the ending of EV tax credits meant to boost sales of green vehicles and slumping sales. Tesla shares are down 27 per cent so far this year as the EV maker is now on track for a second straight year of declining sales. The company's vehicle deliveries fell 13.5 per cent in the second quarter. Separately, Linda Yaccarino, CEO of the billionaire's social media platform X resigned in a surprise move, adding to a growing list of executives at Musk's companies to step down. (Reporting by Akash Sriram in Bengaluru; Editing by Anil D'Silva)
Yahoo
4 days ago
- Automotive
- Yahoo
Tesla to hold annual shareholder meeting in November
(Reuters) -Tesla will hold its annual shareholder meeting on November 6, the Elon Musk-led automaker said on Thursday. The announcement comes a day after a group of 27 major Tesla shareholders urged the electric car maker to set a date for its annual shareholder meeting, citing legal obligations. The board has also set July 31 as the new deadline for the submission of shareholder proposals to be included in the proxy statement. Tesla's last meeting was held in June 2024. The company had in April said it would file its annual proxy statement later than expected and that the board had formed a special committee to consider some compensation matters involving Musk.
