Tesla plans to conduct 1:3 stock split

According to the latest report, Tesla just submitted a proxy statement to the U.S. Securities and Exchange Commission, saying that the company plans to conduct a 1:3 stock split. Tesla shares rose about 1% in after-hours trading on the news.


Tesla said, “Our success depends on attracting and retaining great talent. Extremely competitive compensation, and stock awards for all employees, contribute to Tesla’s success. We believe that a stock split will help adjust the stock price, and employees will have more flexibility in managing their stock awards.”

The proxy statement also states that Elon Musk currently owns 23.5% of Tesla stock and asset management firm Vanguard owns 6%. Musk has sold a sizable chunk of Tesla stock since late 2021, in part because of an increase in Twitter stock. Tesla had a 1:5 stock split in August 2020.


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