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5d ago

Tesla Sets November 6 Shareholder Meeting Four Months Past Texas Deadline

Missing the July 13 deadline exposes Tesla to potential Travis County court action under Texas corporate law.

Elon Musk at the White House in March, before his split with President Donald Trump.
FILE - Elon Musk, who owns Twitter, Tesla and SpaceX, speaks at the Vivatech fair Friday, June 16, 2023 in Paris. Vivatech is Europe's biggest startup and tech event. (AP Photo/Michel Euler, File)
Tesla investors sent a letter to the board this week pressing for a save-the-date on the annual shareholder meeting.
FILE - A Tesla level three Electric vehicle charger is visible, Feb. 2, 2024, in Kennesaw, Ga., near Atlanta. (AP Photo/Mike Stewart, File)

Overview

  • Tesla’s SEC filing confirms its annual meeting will be held on November 6, more than four months after the 13-month window closed.
  • Twenty-seven institutional investors managing $1.5 trillion in assets had demanded a meeting date and disclosure of access details ahead of the statutory deadline.
  • Texas’s Business Organization Code lets shareholders petition a court where the company is headquartered to compel a meeting if the deadline is missed.
  • Investors have pointed to declining sales, falling share prices and CEO Elon Musk’s political commitments as reasons to press for stronger oversight.
  • Tesla shares are down nearly 40 percent since December 2024 as governance concerns have intensified following its 2024 move from Delaware to Texas.