Tesla has filed its Proxy Statement 2024 to the United States Securities and Exchange Commission (SEC). The document includes details about the electric vehicle maker’s 2024 annual meeting of stockholders, updates regarding the company’s plans for CEO Elon Musk’s 2018 pay package, as well as an initiative to move Tesla’s state of corporation from Delaware to Texas. According to the statement, thousands of Tesla shareholders have expressed a desire for the company to relocate to Texas. Robyn Denholm, Tesla’s chair, stated, “2024 is the year that Tesla should move home to Texas.
We are asking for your vote to approve Tesla’s move from Delaware to a new legal home in Texas. Texas is already our business home, and we are committed to it.”
Denholm also noted that ratification of Musk’s 2018 compensation plan, whose targets have already been fully met by the CEO ahead of schedule, would restore Tesla stockholder democracy. This comes in light of the *Tornetta v. Musk* ruling, which saw one of the CEO’s pay package votes rescinded by a Delaware Court earlier this year. Tesla is expected to hold its 2024 annual meeting of stockholders on June 13, 2024 at 3:30 p.m. Central Time (1:30 p.m. Pacific Time).
The meeting will be held at Gigafactory Texas in Austin, Texas. The meeting will address a list of proposals and the Board’s vote recommendations.