Tesla has decided to make the stockholder meeting and battery day on September 22, 2020, mainly virtual. Because of the ongoing health concerns and restrictions, the events as planned had to be changed.
Tesla is not the first to switch its Annual Stockholder Meeting to a virtual event. I recently attended the Fastned Annual Stockholder Meeting from my home. It was an excellent meeting with ample opportunity for interaction with the board and management.
When used properly, it can add to the value of the Annual Meeting. And I have no doubt Tesla will find ways to use the opportunities an online event offers. The first are voting and asking questions from stockholders worldwide.
Read the complete announcement below.
Tesla Announces Updates to 2020 Annual Meeting of Stockholders and Battery Day Event
PALO ALTO, Calif., Aug. 21, 2020 (GLOBE NEWSWIRE) — Tesla, Inc. today announced updates to the time, format and location of its 2020 Annual Meeting of Stockholders (the “2020 Annual Meeting”). Tesla also announced information regarding its separate Battery Day event.
Although Tesla believes that the best stockholder experience is a fully in-person annual meeting open to all stockholders, continuing public health and travel-related requirements and advisories have necessitated a unique format for the 2020 Annual Meeting. The following updates supersede anything to the contrary described in Tesla’s updated definitive proxy statement filed with the U.S. Securities and Exchange Commission on August 13, 2020.
Date and Time of Events
The 2020 Annual Meeting will be held on Tuesday, September 22, 2020, at 1:30 p.m. Pacific Time.
Tesla’s separate Battery Day event will follow immediately after the conclusion of the 2020 Annual Meeting.
Virtual Meeting and Live Video Webcasts
Live video webcasts of the 2020 Annual Meeting and Tesla’s Battery Day event will be accessible to the general public at www.tesla.com/2020shareholdermeeting.
To accommodate ongoing public health requirements and travel considerations, Tesla is also providing any stockholder as of July 31, 2020, the means to join the 2020 Annual Meeting virtually at www.meetingcenter.io/234436330. The virtual meeting will feature the same live video webcasts accessible to the general public, plus the option to submit votes and written comments on meeting agenda items. In order to join the virtual meeting, you will need the password, which is tsla2020, and a 15-digit secure “control number” unique to you, which you may obtain as follows:
- If you are a “stockholder of record” with shares registered directly in your name with our transfer agent, Computershare Trust Company (a minority of Tesla stockholders), you can find the control number on the Notice of Internet Availability or paper proxy card that was sent to you (please check that it is for the meeting as scheduled for September 22, 2020, NOT as previously scheduled for July 7, 2020).
- If you are a “beneficial owner” and hold shares through a broker, bank or other organization (the vast majority of Tesla stockholders), you will have to register in advance to obtain a control number. Please ask your broker, bank or organization for a “legal proxy” for the 2020 Annual Meeting and submit a copy of it from your e-mail address with “Legal Proxy” in the subject line to email@example.com. If your request is received no later than 2:00 p.m. Pacific Time on September 17, 2020, you will receive a confirmation e-mail with your control number.
Limited In-Person Events
In addition, Tesla expects to accommodate a very limited number of stockholders in-person at the 2020 Annual Meeting and the Battery Day event due to mandated restrictions on the size of in-person gatherings. Both events will be held at:
901 Page Ave.
Fremont, CA 94538
We are excited to be able to host attendees in strict accordance with a format that provides robust health control measures. We will also employ additional safety measures and screening protocols to protect our attendees and personnel.
To maximize fairness, Tesla will conduct a random drawing to determine stockholders’ eligibility to attend both events in person. If you were a stockholder on July 31, 2020, you may apply for this drawing at www.tesla.com/2020shareholdermeeting. The drawing will be held strictly in accordance with the rules and terms described at such website, and we will be unable to make any exceptions.
Please note that due to mandated restrictions on the size of in-person gatherings, the total number of people that Tesla may have onsite at the events is very limited. Tesla will not be able to admit anyone to the events except stockholders who have been selected through the drawing and certain Tesla personnel and their guests.
However, Tesla will continue to monitor public health and travel safety protocols required or recommended by federal, state and local governments. Tesla may be required to or choose to further change the date, time, location and/or format of the 2020 Annual Meeting, in which case Tesla will publicly announce any further changes in advance.
All stockholders are encouraged to vote and submit their proxies in advance of the 2020 Annual Meeting by one of the methods described in the proxy materials. Proxy cards, voting instruction forms and Notices of Internet Availability for the 2020 Annual Meeting scheduled for September 22, 2020 that were previously distributed will not be updated to reflect the change in meeting time, location or format, and may continue to be used to vote shares in connection with the 2020 Annual Meeting.