On May 13, 2024, the Shareholder Association for Research and Education (SHARE) submitted a voluntary notice of exempt solicitation to the United States Securities and Exchange Commission, urging Tesla, Inc. shareholders to vote in favor of a shareholder proposal at the upcoming shareholder meeting on June 13, 2024. The proposal, filed by SOC Investment Group, Domini Impact Equity Fund, Folksam Group, and SHARE, requests Tesla to adopt and disclose a Non-interference and Collective Bargaining Policy that aligns with international human rights standards. This policy aims to clarify Tesla's commitment to labor rights, specifically the freedom of association and collective bargaining, and provide guidance for compliance. SHARE's proposal is a response to concerns over Tesla's adversarial approach towards employees' labor rights...Show More

On May 13, 2024, the Shareholder Association for Research and Education (SHARE) submitted a voluntary notice of exempt solicitation to the United States Securities and Exchange Commission, urging Tesla, Inc. shareholders to vote in favor of a shareholder proposal at the upcoming shareholder meeting on June 13, 2024. The proposal, filed by SOC Investment Group, Domini Impact Equity Fund, Folksam Group, and SHARE, requests Tesla to adopt and disclose a Non-interference and Collective Bargaining Policy that aligns with international human rights standards. This policy aims to clarify Tesla's commitment to labor rights, specifically the freedom of association and collective bargaining, and provide guidance for compliance. SHARE's proposal is a response to concerns over Tesla's adversarial approach towards employees' labor rights, which is believed to expose the company to legal, reputational, and operational risks. Despite Tesla's revision of its Global Human Rights Policy in April 2023, the policy has been criticized for prioritizing local law over international standards and for Tesla's refusal to negotiate collective agreements, as evidenced by strikes and boycotts in Sweden and northern Europe. SHARE argues that Tesla's actions, including allegations of violating workers' rights and creating hostile work environments, necessitate a robust policy to protect long-term shareholder value and mitigate workforce-related risks.