Tesla files for 3-for-1 stock split. Since the stock split between August 2020 and June 6, 2022, Tesla’s stock has risen nearly 43.5%, according to the filing.
Tesla’s stock split was proposed by the company’s board of directors to shareholders. Elon Musk’s Tesla has filed a proxy statement with the SEC announcing a 3-for-1 stock split. The document provides an invitation to the 2022 Annual General Meeting of Shareholders scheduled for August 4, 2022.
Among the resolutions to be voted on at the 2022 Annual Meeting, one of the most important is an increase in the authorized number of 4,000,000,000 shares of common stock. Tesla’s board of directors has approved amendments to the authorized shares, subject to shareholder acceptance.
Tesla Stock Split Dividend
The primary purpose of the authorized stock change is to allow a 3-for-1 split of common stock in the form of stock dividends (“stock split”).
According to the filing, Elon Musk owns 23.5% of the shares, while Vanguard Group owns 6% of Tesla stock.
As of June 6, 2022, It had 1,036,390,569 shares of common stock outstanding and the number of shares of common stock currently authorized is 2,000,000,000 shares, which is insufficient to complete the stock split. Tesla’s board intends to approve the stock split subject to shareholder approval of the mandated share amendments.
Tesla Stock Split 2022
Since the stock split between August 2020 and June 6, 2022, Tesla’s stock has risen nearly 43.5%, according to the filing.
It closed at $86.05, $729.77, and $1,199.78 on the first trading days of 2020, 2021, and 2022, respectively (adjusted for a 5-for-1 stock split in the form of a stock split).
Since retail investors have shown high interest in investing in Tesla stock, the stock split will also make the stock more accessible to retail shareholders.
Tesla’s 2022 Annual Meeting of Shareholders will take place on Thursday, August 4, 2022 at Tesla’s Gigafactory in Texas.
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