5 Articles
5 Articles
SEC Staff Green-Lights Tesla Program Letting Retail Shareholders Auto-Vote With The Board: Robinhood CEO Cheers
Robinhood CEO Vlad Tenev posted on X that the SEC letter was “clearing the way for a voting program that empowers retail investors” and that Robinhood is “proud to work with” Tesla. Tesla had asked the SEC whether a standing, reusable voting choice would break proxy rules that limit early vote-gathering; SEC said no. Shareholders would [...]
The SEC issued a non-action letter that allows Tesla to move forward with an optional system for retail shareholders to leave standing voting instructions. The bill seeks to reduce the low turnout, although critics of the model warn that following the board automatically could weaken investors’ independence.
SEC Clears Tesla's New Retail Voting System. What Changes for Investors?
Small Tesla investors can now sign up once and have their shares vote with the board at every meeting. The SEC cleared the plan on Tuesday. Robinhood's CEO calls it what ownership should look like. However, a New York City official called the ExxonMobil program it builds on a blank check. Why Tesla...
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