Tesla seeks to reduce board members’ terms, make other changes in October shareholder meeting
MarketWatch2021-08-14 11:30
Board members would serve for two years rather than three
Tesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.
One of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s board currently has nine members who are divided into three classes in staggered three-year terms.
If the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the filing.
The board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.
Tesla’s board nominated current board members James Murdoch, the youngest son of News Corp founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.
Tesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.
The two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.
Tesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&P 500 index.
source：MarketWatch
MarketWatch2021-08-14 11:30
Board members would serve for two years rather than three
Tesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.
One of the proposals calls for each director’s term to be reduced from three years to two years. Tesla’s board currently has nine members who are divided into three classes in staggered three-year terms.
If the proposal is approved, however, the board will be divided into two classes with staggered two-year terms, with directors distributed as equally between the classes as possible, Tesla said in the filing.
The board would be reduced to eight members, since Antonio Gracias, a venture capitalist who has served on the Tesla board since 2007, said in 2019 he’d not be seeking reelection when his term ends this year.
Tesla’s board nominated current board members James Murdoch, the youngest son of News Corp founder Rupert Murdoch, and Kimbal Musk, Chief Executive Elon Musk’s brother, for re-election as class II directors, with terms expiring in 2024. If the term reduction is approved, then their terms would end in 2023, the company said.
Tesla’s curtailing board member terms was a response to a shareholder proposal calling to elect each board member for one year.
The two-year term, however, “strikes a suitable balance to the long-term interests of and nearer-term accountability to our stockholders at this time,” Tesla said.
Tesla shares were flat in after-hours trading after ending the regular trading day down 0.7%. The stock has gained 1.6% this year, compared with gains of around 19% for the S&P 500 index.
source：MarketWatch
#考研英语# 词汇逻辑词之竞选、宣传
一、elect
①v.选举，推选② adj.候任的
派生：election n.选举;当选;elective①adj.选举的，由选举产生的;可选择的 ②n.选修课
二、propaganda
n.宣传，鼓吹
识记：left-liberal propaganda左翼自由主义宣传(2014英语一阅读)
三、propagate
v.传播，宣传
例句：The cascade of change won't propagate very far or affect many people.(2010英语一阅读)这一连串的变化不会传播很远，也不会影响很多人。
派生：propagation n.传播;繁殖
四、eligible
adj.合格的，有资格的，符合条件的;合适的，理想的
识记：to make women eligible for jury duty让女性有资格担任陪审员(2010英语二阅读)
五、constituent
①n.选民;成分，构成部分，要素 ② adj.组成的，构成的
例句：Officials will hear from their constituents and act on their concerns.(2017英语一阅读)官员要倾听选民们的心声，针对选民关切之事采取相应措施
六、campaign
①n.(尤指政治、商业或军事)活动，运动;战役②v.发起运动;从事活动
识记：presidential campaign总统竞选(2018英语一阅读)
一、elect
①v.选举，推选② adj.候任的
派生：election n.选举;当选;elective①adj.选举的，由选举产生的;可选择的 ②n.选修课
二、propaganda
n.宣传，鼓吹
识记：left-liberal propaganda左翼自由主义宣传(2014英语一阅读)
三、propagate
v.传播，宣传
例句：The cascade of change won't propagate very far or affect many people.(2010英语一阅读)这一连串的变化不会传播很远，也不会影响很多人。
派生：propagation n.传播;繁殖
四、eligible
adj.合格的，有资格的，符合条件的;合适的，理想的
识记：to make women eligible for jury duty让女性有资格担任陪审员(2010英语二阅读)
五、constituent
①n.选民;成分，构成部分，要素 ② adj.组成的，构成的
例句：Officials will hear from their constituents and act on their concerns.(2017英语一阅读)官员要倾听选民们的心声，针对选民关切之事采取相应措施
六、campaign
①n.(尤指政治、商业或军事)活动，运动;战役②v.发起运动;从事活动
识记：presidential campaign总统竞选(2018英语一阅读)
#考研英语# 词汇逻辑词之竞选、宣传
一、elect
①v.选举，推选② adj.候任的
派生：election n.选举;当选;elective①adj.选举的，由选举产生的;可选择的 ②n.选修课
二、propaganda
n.宣传，鼓吹
识记：left-liberal propaganda左翼自由主义宣传(2014英语一阅读)
三、propagate
v.传播，宣传
例句：The cascade of change won't propagate very far or affect many people.(2010英语一阅读)这一连串的变化不会传播很远，也不会影响很多人。
派生：propagation n.传播;繁殖
四、eligible
adj.合格的，有资格的，符合条件的;合适的，理想的
识记：to make women eligible for jury duty让女性有资格担任陪审员(2010英语二阅读)
五、constituent
①n.选民;成分，构成部分，要素 ② adj.组成的，构成的
例句：Officials will hear from their constituents and act on their concerns.(2017英语一阅读)官员要倾听选民们的心声，针对选民关切之事采取相应措施
六、campaign
①n.(尤指政治、商业或军事)活动，运动;战役②v.发起运动;从事活动
识记：presidential campaign总统竞选(2018英语一阅读)
一、elect
①v.选举，推选② adj.候任的
派生：election n.选举;当选;elective①adj.选举的，由选举产生的;可选择的 ②n.选修课
二、propaganda
n.宣传，鼓吹
识记：left-liberal propaganda左翼自由主义宣传(2014英语一阅读)
三、propagate
v.传播，宣传
例句：The cascade of change won't propagate very far or affect many people.(2010英语一阅读)这一连串的变化不会传播很远，也不会影响很多人。
派生：propagation n.传播;繁殖
四、eligible
adj.合格的，有资格的，符合条件的;合适的，理想的
识记：to make women eligible for jury duty让女性有资格担任陪审员(2010英语二阅读)
五、constituent
①n.选民;成分，构成部分，要素 ② adj.组成的，构成的
例句：Officials will hear from their constituents and act on their concerns.(2017英语一阅读)官员要倾听选民们的心声，针对选民关切之事采取相应措施
六、campaign
①n.(尤指政治、商业或军事)活动，运动;战役②v.发起运动;从事活动
识记：presidential campaign总统竞选(2018英语一阅读)
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