Summary by Futu AI
On June 6, 2024, Tesla, Inc. updated its proxy materials on its website, VoteTesla.com, in preparation for its upcoming Annual Stockholders' Meeting on June 13, 2024. The update includes transcripts and video content advocating for two critical proposals: the redomestication of Tesla to Texas and the ratification of CEO Elon Musk's 2018 performance award. Board members and advisors emphasized the thorough and independent process undertaken to evaluate these proposals, highlighting the benefits of Texas incorporation and defending the 2018 performance award against a Delaware court decision that rescinded it. The materials argue that the proposals align with shareholder interests and Tesla's future growth. Tesla's Board urges shareholders to vote in favor of both proposals, with additional communications sent to stockholders on June 7, 2024, to reinforce this message.