Tesla plans a 3-for-1 stock split, and Elon Musk now holds 23.5% of shares.
with the SEC and revealed it plans a three-for-one stock split, and that board member Larry Ellison does not plan to stand for re-election.
In the filing, the company wrote of the proposed stock split, "Our success depends on attracting and retaining excellent talent," and that "highly competitive compensation packages," offering every employee an option to receive equity, helped Tesla to do that. "We believe the Stock Split would help reset the market price of our common stock so that our employees will have more flexibility in managing their equity.
A stock split of this nature could mean that more smaller investors feel they can afford the stock, but those investors are minuscule compared to major institutions. Many brokerages also already offer investors fractional trading, allowing small investors to buy a slice of seemingly expensive stocks.
In its 2022 proxy filing, the electric vehicle and renewable energy business, also revealed that board member Larry Ellison currently owns 1.5% of Tesla shares. Ellison plans to relinquish his duties as a member of Tesla's board of directors, but the filing did not say who may replace him if anyone. The filing also says that Tesla CEO Elon Musk currently holds 23.5% of Tesla shares and Vanguard holds 6% of Tesla shares. Musk sold a considerable chunk of his Tesla holdings since late 2021, in part to shore up a stake in Twitter, the social networking giant he agreed to acquire for around $44 billion.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why Elon Musk is lashing out about recession, work from home, Tesla layoffs, Twitter dealWonder why Elon Musk is lashing out about recession risks and work from home? Just look under the hood at Tesla.
Read more »
Twitter acts to save Elon Musk acquisition deal, report says | Digital TrendsWith ElonMusk threatening to walk away from his offer to acquire Twitter, the company has reportedly made a move to try to save the deal.
Read more »
Twitter to provide Elon Musk with 'firehose' of internal data: Report.Twitter has seemingly shifted its position after an impasse and will provide ElonMusk access to its internal data.
Read more »
The Tricky Business of Elon Musk Getting Twitter Fire-Hose AccessIt's not clear that giving Elon Musk access to the 'fire hose' of 500 million tweets posted to Twitter every day will actually help him answer the key question he claims is holding up his purchase.
Read more »
Twitter to give Elon Musk internal data on spam, fake accounts: reportAfter repeated requests, Elon Musk will reportedly get the spam and fake account data he's been asking for from Twitter.
Read more »
Elon Musk reveals 'nightmare year' when he reached 'the lowest of the low' in business, life‘NIGHTMARE YEAR’: Elon Musk reveals when he reached 'lowest of the low' in business, life.
Read more »