Tesla just filed its annual proxy statement 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. 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.