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Tesla files for 3-for-1 stock split

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Tesla just filed its annual proxy statement with the SEC and revealed it plans a three-for-one stock split, and that board member Larry Ellison does not plan to stand for re-election.

Shares of Tesla were up by more than 1% after-hours having closed at $696.69 on Friday.

In the filing, the company wrote of the proposed stock split, “Our success depends on attracting and retaining excellent talent,” and that “highly competitive compensation packages,” offering every employee an option to receive equity, helped Tesla to do that. “We believe the Stock Split would help reset the market price of our common stock so that our employees will have more flexibility in managing their equity.”

A stock…



Source cnbc.com

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