Summary
– Elon Musk announced Tesla will contact banks and brokers in Europe for European TSLA shareholders to vote in the 2024 Annual Shareholders Meeting
– The meeting is scheduled for June 13, 2024, at 3:30 PM CT, with concerns raised by TSLA shareholders about voting in General Meetings
– European online brokers Avanza and Nordnet are responding to these concerns to enable TSLA shareholders to vote
– Shares held in trust accounts prevent customers from participating in foreign general meetings, but brokers are finding solutions
– Critical proposals in the upcoming Annual Shareholders Meeting include voting on director nominees, stock options, and Tesla’s domestication from Delaware to Texas.
Article
Elon Musk has announced that Tesla will be contacting banks and brokers in Europe to ensure that European TSLA shareholders are able to vote in the upcoming 2024 Annual Shareholders Meeting. The meeting is scheduled for Thursday, June 13, 2024, at 3:30 PM CT. A Tesla supporter named Alexandra Merz had previously shared concerns that some TSLA shareholders representing 2,000,000 shares were unable to vote on the General Meetings proposals through their proxies.
In response to Merz’s concerns, Elon Musk stated that it is concerning and that Tesla will reach out to the banks and brokers involved as shareholders have the right to vote their shares. This proactive approach by Musk demonstrates Tesla’s commitment to ensuring shareholder participation in the upcoming meeting. Two online brokers in the EU, Avanza and Nordnet, have already responded to Musk’s concerns and are actively working to find ways to enable TSLA shareholders to vote during the meeting.
Avanza and Nordnet explained that their customers are not able to participate in foreign general meetings because the shares are trustee-registered and not listed under their names. Both brokers are currently working on finding a solution to enable their customers to vote and plan to send out information to affected customers. This response from the brokers shows their willingness to address the issue and ensure that TSLA shareholders have the opportunity to vote in the 2024 Annual Shareholders Meeting.
Tesla’s 2024 Annual Shareholders Meeting will include several critical proposals, including the election of two director nominees, James Murdoch and Kimbal Musk. Shareholders will also vote to ratify Elon Musk’s 100% performance-based stock options from 2018 and decide on Tesla’s domestication from Delaware to Texas. These proposals will have significant implications for TSLA shareholders, and their participation in voting is crucial for shaping the future direction of the company.
Overall, the efforts by Elon Musk and Tesla to address the concerns raised by TSLA shareholders regarding their voting rights at the upcoming 2024 Annual Shareholders Meeting demonstrate a commitment to ensuring shareholder participation and transparency. By engaging with banks and brokers in Europe, Tesla is taking proactive steps to enable all shareholders to exercise their voting rights effectively. The response from brokers like Avanza and Nordnet further underscores the importance of shareholder engagement and the need for collaborative efforts to address issues that may impact shareholder participation in corporate decision-making processes.
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