Illustration by Alex Castro / The Verge
Tesla is asking its shareholders to approve a three-way stock split to help make the company’s shares cheaper for buyers.
The request is included in a list of provisions Tesla is planning to bring up at its August 4, 2022 shareholder meeting, which it filed Friday with the US Securities and Exchange Commission. Tesla is framing it as way to “reset” its stock price, which has gone up dramatically in the past few years — 43.5 percent since the company’s last stock split in August 2020.
“While this value appreciation has led to our employees benefiting enormously through the years, we want to make sure all employees, no matter when they join, have access to the same advantages,” the company states.