Tesla is making a concerted effort to rally shareholders to vote for the ratification of CEO Elon Musk’s 2018 compensation plan, setting aside a Delaware Judge’s decision earlier this year. Additionally, Tesla is advocating for the proposed reincorporation of the company in the State of Texas. According to Schedule 14A, Tesla has initiated a campaign using dedicated social media advertisements to encourage shareholders to vote for Proposals 3 and 4, emphasizing shareholders’ right to have the final say. The company also sent a letter to stockholders on May 13, 2024, which included a message from Tesla Board Chair Robyn Denholm, stating the significance of Proposals 3 and 4 to Tesla’s mission and growth.
In the letter, Denholm stressed the importance of these proposals and urged shareholders to vote in favor of them, noting the substantial growth in TSLA stock and the company’s impressive financial turnaround. The letter also provided a guide on how TSLA shareholders could vote for Proposals 3 and 4, utilizing online platforms, QR codes, or regular mail, while also providing hotlines for investors to seek further information. Overall, Tesla’s Schedule 14A details its comprehensive efforts to encourage investors to support Proposals 3 and 4.