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Simultaneously, the company grappled with the potential redomestication to Texas, a move Elon Musk publicly advocated. His tweet announcing the desire to relocate Tesla’s legal domicile to Texas prompted the company to assemble a special committee of the board to thoroughly analyze whether such a shift was prudent. This process further delayed the shareholder vote, pushing it into June.
The Proxy and Voting Mechanics
The entire voting process hinged on the proxy materials distributed to shareholders. The proxy includes all necessary information to allow shareholders to cast informed votes on multiple issues, including executive compensation, board composition, and the proposed Texas redomestication.