Tesla Decides to Change Stock Split from 3-for-1 to 1-for-1
US Securities and Exchange Commission Filing
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[Asia Economy Reporter Yu Je-hoon] Tesla has reported to the U.S. Securities and Exchange Commission (SEC) that it will carry out a stock split, dividing existing shares into 3 shares, CNBC and others reported on the 10th (local time).
According to the report, Tesla submitted an annual shareholder meeting agenda report containing this information to the SEC on the same day. If the agenda is approved at the annual general meeting on August 4, the stock split will proceed.
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Tesla cited enhancing shareholder value and employee compensation as the goals of this stock split. In the report, Tesla stated, "The company's success depends on attracting talent and competitive compensation packages," and added, "This measure will also provide employees with greater flexibility in managing their shares."
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