Tesla鈥檚 Shareholder Meeting: How To Watch And What To Expect
The board, like the company it governs, has also undergone changes in the past 12 months. In December, Tesla appointed two independent board members, Oracle founder, chairman and CTO Larry Ellison and Walgreens executive Kathleen Wilson-Thompson. Four months later, Tesla announced in regulator filings, that was reducing the board by more than one-third, to seven directors. Brad Buss, Linda Johnson Rice, Steve Jurvetson and Antonio Gracias will not stand for re-election once their terms end. Like its earnings calls, Tesla shareholder meetings are rarely boring. If the past is a guide, the event will be run like an informal town hall meeting with Musk fielding questions from the crowd of shareholders. There will also be the requisite corporate governance duties to complete. First, the basics. Tesla shareholder meeting is scheduled to begin at 2:30 p.m. Tuesday at the Computer History Museum in Mountain View, Calif. You can watch the livestream via the company鈥檚 website.
While it鈥檚 impossible to predict precisely what Musk will talk about on stage, we do know there are eight items on the agenda that shareholders have been asked to voted on. The first six proposals are from Tesla. To re-elect directors Ira Ehrenpreis and Wilson-Thompson for a term of three years. If proposal 5, listed below, is approved, the terms will be two years. To approve the Tesla 2019 equity incentive plan, which would give the company the ability to issue 12.5 million new shares. Tesla wants to continue issuing stock as compensation for employees and executives. However, there is some concern from Institutional Shareholder Services, a shareholder advisory service, that this will dilute shareholders鈥?equity. To approve the Tesla 2019 Employee Stock Purchase Plan. This would continue a plan already in place that lets employees purchase stock through payroll deductions at the end of consecutive, non-overlapping six-month offering periods. To approve and adopt amendments to Tesla鈥檚 certificate of incorporation and bylaws to eliminate applicable supermajority voting requirements. Basically, this would mean that Tesla wouldn鈥檛 need a supermajority vote (at least 66% of the voting power of all outstanding shares) to amend its governing documents. To approve an amendment to our certificate of incorporation to reduce director terms from three years to two years. The remaining two are stockholder proposals, both of which Tesla is against. Jing Zhao, who owns 12 shares of Tesla stock, submitted a proposal to form a public policy committee to oversee policies including human rights, environment, domestic governmental regulations, foreign affairs and international relations affecting the company鈥檚 business. James McRitchie, who owns 90 shares of Tesla stock, proposes simple majority voting provisions for governing documents and eliminate the current supermajority voting requirements. Tesla is recommending voting for its own supermajority elimination proposal.
Several cars with bullet holes and shattered windows were at a parking lot near the condo complex. Of the nine wounded, one is in critical condition, another is in serious condition and three people were treated and released, Montalvo said. Cars and windows had bullet holes at the scene where the suspect allegedly fired about 6:30am with a revolver at a strip mall. Officials said the gunman shot from behind a tree. Houston police said the suspect was shot by an officer, ABC13 reported. Police 'engaged' with the shooter and eventually 'neutralized' him, KHOU reported. His condition and identity remain unclear. Nearby, there was increased police activity at an apartment complex on Law Street, ABC7 reported. Houston police said the suspect has been shot by an officer. One report has claimed there were 'bodies on the ground' at the scene, according ABC13. Police considered the scene active and deployed a bomb squad after a suspicious vehicle was reported near the scene, according to the station.
At least 20 first responders were at the Randalls supermarket strip center, one official said. Jay Evans, of the Houston Fire Department , to ABC13. We now have approximately 20 EMS personnel vehicles on scene. Traffic in the area has been shut down since the shooting began. It is unclear how many people were shot. One witness said police exchanged gunfire with the suspect. I literally heard the gunshots past my face,' Antoine Wilson told ABC13. I'd never been in a standoff like this,' he added. It was a whole bunch of shooting. Too much shooting, actually. Wilson said he saw a mean bleeding from the side of his face. The shooting comes days after a shooting at a Washington state mall that left five people dead. On Sept. 17, a 20-year-old man stabbed 10 people at a Minnesota mall before being shot to death by an off-duty police officer.