Factbox: Tesla sets stage for annual shareholder meeting

Tesla, the electric vehicle and clean energy company, is gearing up for its annual shareholder meeting on July 7. The meeting is expected to be held virtually due to the ongoing COVID-19 pandemic. Here are some of the main points to look out for:

• Stock split: Tesla recently announced a 5-for-1 stock split, which will take effect on August 31. Shareholders will vote on the split at the meeting.
• Board of directors: Three board members are up for re-election: Antonio Gracias, James Murdoch, and Kimbal Musk (Elon Musk’s brother). Shareholders will also vote on a proposal to remove a mandatory retirement age for board members.
• Compensation plan: Shareholders will vote on a proposal to approve a new performance-based compensation plan for Elon Musk, Tesla’s CEO. The plan could potentially award him up to $55 billion in stock options if Tesla’s market cap reaches $650 billion.
• Environmental concerns: Some shareholders may bring up concerns about Tesla’s environmental impact, particularly regarding the company’s use of cobalt in its batteries. Cobalt mining has been linked to child labor and other ethical issues.
• COVID-19: Tesla’s response to the pandemic may also come up, particularly in terms of worker safety and the impact on production and sales.

As the world moves towards a more sustainable future and electric vehicles become increasingly popular, Tesla’s role in this transition is significant. The decisions made at the shareholder meeting could have a significant impact on the company’s future and the future of the clean energy industry.