Tesla (TSLA) prepares for 2023 Cyber Roundup shareholder meeting on May 16

Electric vehicle giant, Tesla Inc. (NASDAQ: TSLA) will hold its 2023 Annual Shareholder Meeting (also known as the 2023 Cyber Roundup) on Tuesday, May 16 at 4 PM CT at its Gigafactory in Texas.

This year’s annual meeting features the potential return of the company’s former Chief Technology Officer JB Straubel. The former CTO has been nominated to become a member of Tesla’s Board of Directors. Straubel is considered one of the company’s co-founders and has been instrumental in numerous battery innovations for Tesla.

Apart from the potential appointment of JB Straubel to the company’s board, the 2023 Cyber Roundup will also feature several votes on executive compensation as well as a vote on a proposal from Iceland-based investor Sumtris ehf. Sumtris ehf seeks to identify key persons, succession processes and other "actions to ameliorate the impacts of their potential loss."

Fears have deepened over Tesla's reliance on Musk, who also heads several other companies including social media firm Twitter, which he bought for $44 billion last year.

The EV maker has urged shareholders to vote against the proposal, saying it "would cause unnecessary competitive harm".

Martin Viecha, Tesla’s Head of Investor Relations, emphasized on Twitter the importance of shareholders verifying their status through the company’s Investor Relations website if they wish to be invited as a guest. “Folks, remember: If you want to be invited as a +1, you need to be a shareholder verified through our IR website, whether you’re a friend or a family member,” Viecha wrote in a post on Twitter.

As per Tesla, a random drawing will be held to determine who could attend the 2023 Cyber Roundup in person. The deadline for entry is Friday, April 14, 2023, at 11:59 PM Central Time. Shareholders who are selected through the drawing will be required to confirm their identity with valid government-issued identification. It should be noted that selections are non-transferable.

Shares of TSLA are down 1.58% in mid-day trading on Monday.

By Michael Elkins | [email protected]

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