Tesla Schedules Delayed Annual Meeting Amid Shareholder Pressure and AI Integration Plans

Tesla announces Nov annual meeting under pressure from shareholders, but may still be skirting law

Tesla has scheduled an annual shareholder meeting for November, one day after it came under pressure from major shareholders to do so. Billionaire Elon Musk's company said in a regulatory filing on Thursday that the meeting would be held Nov. 6, but that may prove troublesome because it comes nearly three months after it is required to do so under state law in Texas, where the company is incorporated. The annual meeting, given Tesla's fortunes this year, has the potential to be a raucous event and it is unclear how investors will react to the delay, which is rare for any major U.S. corporation. Tesla shares have plunged 27% this year, largely due to blowback over Musk's affiliation with President Donald Trump, as well as rising competition. The announcement of the meeting comes a day after a group of more than 20 Tesla shareholders sent a letter to the company's board pressing for an annual meeting after receiving now word of one with the deadline just days away. Many shareholders have been miffed by Musk's participation in the Trump administration this year, saying he needs to focus on his EV company which is facing extraordinary pressures. "An annual meeting provides shareholders with the opportunity to hear directly from the board about these concerns, and to vote for or against directors, the board's approach to executive compensation, and other matters of material importance," the group said in the letter. The group cited Texas law, which requires companies to schedule annual shareholders meetings within 13 months of the prior annual meeting. Tesla's last shareholders meeting was on June 13 of last year, where investors voted to restore Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier that year. Also on Thursday, Musk that the Grok chatbot will be heading to Tesla vehicles. "Grok is coming to Tesla vehicles very soon. Next week at the latest," Musk said on social media platform X, in response to a post stating that Grok implementation on Teslas wasn't announced on a Grok livestream Wednesday. Grok was developed by Musk's artificial intelligence company xAI and pitched as an alternative to "woke AI" interactions from rival chatbots like Google's Gemini, or OpenAI's ChatGPT. Shares of Tesla rose 3% at the opening bell after tumbling this week when the feud between Trump and Musk heated up again.

Tesla finally sets a date for its shareholder meeting

Tesla might have just dodged a Texas lawsuit -- by pushing its shareholder meeting nearly four months past its legal deadline. On Wednesday evening, the company filed SEC paperwork, confirming that Tesla will hold its overdue 2025 annual shareholder meeting on November 6. That announcement arrives nearly four months past the deadline required under Texas law, where Tesla is incorporated and based. Under state rules, publicly traded companies must hold shareholder meetings within 13 months of their previous one. Tesla's 2024 meeting was in June, making July 13 the cutoff. Company shares rose about 3% in early trading after the meeting date was set. Whether the late scheduling will satisfy Texas' legal requirement remains up in the air. State officials had signaled that they were prepared to take action if Tesla failed to meet the deadline. A written shareholder consent could technically satisfy the law, but Tesla hasn't disclosed one. And in its filing, the company didn't explain the delay. The question remains: Did Tesla comply with the spirit of the law -- or just with the bare-minimum interpretation? Any ambiguity could leave the company vulnerable to lawsuits or penalties, and the delay has already inflamed long-simmering investor concerns about transparency and governance. The timing of the filing is no accident. Just 24 hours before Tesla's filing, a coalition of 27 state officials and institutional investors -- including public fund managers from New York, Oregon, and Maryland -- issued a sharply worded letter criticizing Tesla's silence and urging the board to schedule the meeting immediately. The group, which collectively manages more than $1.5 trillion in assets, expressed "deep concern regarding the lack of timely notice about the date and format" of the annual gathering. Tesla's move to announce a meeting just under the wire could calm some of those nerves, but it doesn't entirely close the case. Annual shareholder meetings offer rare, high-profile opportunities for investors to question executives, challenge board decisions, and hold leadership accountable. And this year, there's plenty for Tesla shareholders to talk about. The company's stock is down 20% year to date. Vehicle sales have slumped due to an aging product lineup and rising EV competition. CEO Elon Musk has become increasingly immersed in partisan politics, allegedly launching a third party after a very public fallout with President Donald Trump. That political turn has rattled investors -- and alienated some of the liberal consumers most likely to buy electric cars. Tesla, meanwhile, is trying to shift the narrative. The company has increasingly downplayed vehicle sales and has pivoted its messaging toward full self-driving technology and robotics, though both remain in early stages. Musk said robotaxis are coming to San Francisco soon, and Tesla just announced that Grok, the AI chatbot developed by Musk's xAI startup, will be integrated into its vehicles as soon as next week, further blurring the lines between Musk's ventures and potentially raising fresh governance questions when proxy materials are released. Advocacy groups have slammed Tesla's compressed timeline and the board's perceived resistance to shareholder input. "The Tesla board's efforts to dismiss shareholder proposals is a bigger impediment than having a very short window to submit them in the first place," Kevin Thomas, CEO of shareholder advisory group SHARE, told Reuters. Earlier this year, a Delaware court voided Elon Musk's $56 billion pay package, ruling it was pushed through without proper process. In response, Tesla shareholders voted in June to reincorporate the company in Texas, a move that many saw as an effort to benefit from the state's increasingly business-friendly -- and investor-constraining -- laws. Just weeks later, Texas passed legislation that makes it harder for shareholders to sue company executives or submit activist proposals. Tesla then amended its bylaws to block any investor with less than 3% of shares from filing derivative lawsuits. All that means that this fall's shareholder meeting will likely be the most closely watched in Tesla's history. That pay package issue is expected to return to the ballot, along with fresh scrutiny over Musk's control across multiple companies, the board's independence, and Tesla's ability to compete in a rapidly shifting auto market. If Tesla's strategy was to buy time, the company may have gotten it. But whether or not it bought goodwill is another question entirely.

Tesla announces November annual meeting under pressure from shareholders

Tesla has scheduled an annual shareholders meeting for November, one day after the electric vehicle company came under pressure from major shareholders to do so. Billionaire Elon Musk's company said in a regulatory filing on Thursday that the meeting will be held on Nov. 6. A group of more than 20 Tesla shareholders said in a letter to the company a day earlier that it needed to provide public notice of the annual meeting. Texas law states businesses must hold annual meetings within 13 months of their last one, if shareholders request it. But the law also allows for "written consent instead of the annual meeting" to be executed within the 13-month timeframe. Tesla is incorporated in Texas. The annual meeting, given Tesla's fortunes this year, has the potential to be a raucous event and it is unclear how investors will react to the delay, which is rare for any major U.S. corporation. Tesla shares have plunged 27% this year, largely due to blowback over Musk's affiliation with President Donald Trump, as well as rising competition. Many shareholders have been miffed by Musk's participation in the Trump administration this year, saying he needs to focus on his EV company which is facing extraordinary pressures. "An annual meeting provides shareholders with the opportunity to hear directly from the board about these concerns, and to vote for or against directors, the board's approach to executive compensation, and other matters of material importance," the group said in the letter. Tesla's last shareholders meeting was on June 13 of last year, where investors voted to restore Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier that year. Tesla also said in its regulatory filing on Thursday that July 31 is the new deadline for the submission of proposals to be included in the proxy statement. In a January filing, Tesla said it would file its proxy statement for this year's annual meeting by the end of April. However, the company filed an amended report on April 30, saying that it didn't have a date for the meeting yet. Tesla also said in that filing that it was creating a special committee to look at Musk's compensation as CEO. Also on Thursday, Musk said that the Grok chatbot will be heading to Tesla vehicles. "Grok is coming to Tesla vehicles very soon. Next week at the latest," Musk said on social media platform X, in response to a post stating that Grok implementation on Teslas wasn't announced on a Grok livestream Wednesday. Grok was developed by Musk's artificial intelligence company xAI and pitched as an alternative to "woke AI" interactions from rival chatbots like Google's Gemini, or OpenAI's ChatGPT. Yet Grok has had a bumpy ride during its rollout. On Wednesday xAI announced that it was taking down "inappropriate posts" made by its Grok chatbot, which appeared to include antisemitic comments that praised Adolf Hitler. Shares of Tesla rose more than 3% in Thursday morning trading after tumbling this week as the feud between Trump and Musk heated up again. © 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Tesla announces Nov. annual meeting under pressure from shareholders, but may still be skirting law

Tesla has scheduled an annual shareholder meeting for November, one day after it came under pressure from major shareholders to do so. Billionaire Elon Musk's company said in a regulatory filing on Thursday that the meeting would be held Nov. 6, but that may prove troublesome because it comes nearly three months after it is required to do so under state law in Texas, where the company is incorporated. The annual meeting, given Tesla's fortunes this year, has the potential to be a raucous event and it is unclear how investors will react to the delay, which is rare for major U.S. corporations. Tesla shares have plunged 27% this year, largely due to blowback over Musk's affiliation with President Donald Trump, as well as rising competition. The announcement of the meeting comes a day after a group of more than 20 Tesla shareholders sent a letter to the company's board pressing for an annual meeting after receiving now word of one with the deadline just days away. Many shareholders have been miffed by Musk's participation in the Trump administration this year, saying he needs to focus on his EV company which is facing extraordinary pressures. "An annual meeting provides shareholders with the opportunity to hear directly from the board about these concerns, and to vote for or against directors, the board's approach to executive compensation, and other matters of material importance," the group said in the letter. The group cited Texas law, which requires companies to schedule annual shareholders meetings within 13 months of the prior annual meeting. Tesla's last shareholders meeting was on June 13 of last year, where investors voted to restore Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier that year. Also on Thursday, Musk that the Grok chatbot will be heading to Tesla vehicles. "Grok is coming to Tesla vehicles very soon. Next week at the latest," Musk said on social media platform X, in response to a post stating that Grok implementation on Teslas wasn't announced on the Grok update livestream on Wednesday. Grok was developed by Musk's artificial intelligence company xAI and pitched as an alternative to "woke AI" interactions from rival chatbots like Google's Gemini, or OpenAI's ChatGPT. Yet Grok has had a bumpy ride during its rollout. On Wednesday xAI announced that it was taking down "inappropriate posts" made by its Grok chatbot, which appeared to include antisemitic comments that praised Adolf Hitler. Shares of Tesla rose slightly before the opening bell on Thursday.

Tesla announces November annual meeting under pressure from shareholders

Tesla has scheduled an annual shareholders meeting for November, one day after the electric vehicle company came under pressure from major shareholders to do so. Billionaire Elon Musk's company said in a regulatory filing on Thursday that the meeting will be held on Nov. 6. A group of more than 20 Tesla shareholders said in a letter to the company a day earlier that it needed to provide public notice of the annual meeting. Texas law states businesses must hold annual meetings within 13 months of their last one, if shareholders request it. But the law also allows for "written consent instead of the annual meeting" to be executed within the 13-month timeframe. Tesla is incorporated in Texas. The annual meeting, given Tesla's fortunes this year, has the potential to be a raucous event and it is unclear how investors will react to the delay, which is rare for any major U.S. corporation. Tesla shares have plunged 27% this year, largely due to blowback over Musk's affiliation with President Donald Trump, as well as rising competition. Many shareholders have been miffed by Musk's participation in the Trump administration this year, saying he needs to focus on his EV company which is facing extraordinary pressures. "An annual meeting provides shareholders with the opportunity to hear directly from the board about these concerns, and to vote for or against directors, the board's approach to executive compensation, and other matters of material importance," the group said in the letter. Tesla's last shareholders meeting was on June 13 of last year, where investors voted to restore Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier that year. Tesla also said in its regulatory filing on Thursday that July 31 is the new deadline for the submission of proposals to be included in the proxy statement. In a January filing, Tesla said it would file its proxy statement for this year's annual meeting by the end of April. However, the company filed an amended report on April 30, saying that it didn't have a date for the meeting yet. Tesla also said in that filing that it was creating a special committee to look at Musk's compensation as CEO. Also on Thursday, Musk said that the Grok chatbot will be heading to Tesla vehicles. "Grok is coming to Tesla vehicles very soon. Next week at the latest," Musk said on social media platform X, in response to a post stating that Grok implementation on Teslas wasn't announced on a Grok livestream Wednesday. Grok was developed by Musk's artificial intelligence company xAI and pitched as an alternative to "woke AI" interactions from rival chatbots like Google's Gemini, or OpenAI's ChatGPT. Shares of Tesla rose more than 3% in Thursday morning trading after tumbling this week as the feud between Trump and Musk heated up again.

Tesla Announces Nov. Annual Meeting Under Pressure From Shareholders, but May Still Be Skirting Law

Tesla has scheduled an annual shareholder meeting for November, one day after it came under pressure from major shareholders to do so. Billionaire Elon Musk's company said in a regulatory filing on Thursday that the meeting would be held Nov. 6, but that may prove troublesome because it comes nearly three months after it is required to do so under state law in Texas, where the company is incorporated. The annual meeting, given Tesla's fortunes this year, has the potential to be a raucous event and it is unclear how investors will react to the delay, which is rare for major U.S. corporations. Tesla shares have plunged 27% this year, largely due to blowback over Musk's affiliation with President Donald Trump, as well as rising competition. The announcement of the meeting comes a day after a group of more than 20 Tesla shareholders sent a letter to the company's board pressing for an annual meeting after receiving now word of one with the deadline just days away. Many shareholders have been miffed by Musk's participation in the Trump administration this year, saying he needs to focus on his EV company which is facing extraordinary pressures. "An annual meeting provides shareholders with the opportunity to hear directly from the board about these concerns, and to vote for or against directors, the board's approach to executive compensation, and other matters of material importance," the group said in the letter. The group cited Texas law, which requires companies to schedule annual shareholders meetings within 13 months of the prior annual meeting. Tesla's last shareholders meeting was on June 13 of last year, where investors voted to restore Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier that year. Also on Thursday, Musk that the Grok chatbot will be heading to Tesla vehicles. "Grok is coming to Tesla vehicles very soon. Next week at the latest," Musk said on social media platform X, in response to a post stating that Grok implementation on Teslas wasn't announced on the Grok update livestream on Wednesday. Grok was developed by Musk's artificial intelligence company xAI and pitched as an alternative to "woke AI" interactions from rival chatbots like Google's Gemini, or OpenAI's ChatGPT. Shares of Tesla rose slightly before the opening bell on Thursday. Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Tesla announces Nov annual meeting under pressure from shareholders, but may still be skirting law

has scheduled an annual shareholder meeting for November, one day after it came under pressure from major shareholders to do so. Billionaire company said in a regulatory filing on Thursday that the meeting would be held , but that may prove troublesome because it comes nearly three months after it is required to do so under state law in , where the company is incorporated. The announcement of the meeting comes a day after a group of more than 20 shareholders sent a letter to the company's board pressing for an annual meeting after receiving now word of one with the deadline just days away. Many shareholders have been miffed by Musk's participation in the Trump administration this year, saying he needs to focus on his EV company which is facing extraordinary pressures. "An annual meeting provides shareholders with the opportunity to hear directly from the board about these concerns, and to vote for or against directors, the board's approach to executive compensation, and other matters of material importance," the group said in the letter. The group cited law, which requires companies to schedule annual shareholders meetings within 13 months of the prior annual meeting. "Grok is coming to vehicles very soon. Next week at the latest," Musk said on social media platform X, in response to a post stating that Grok implementation on Teslas wasn't announced on a Grok livestream Wednesday. Grok was developed by Musk's artificial intelligence company xAI and pitched as an alternative to "woke AI" interactions from rival chatbots like Google's Gemini, or OpenAI's ChatGPT. Yet Grok has had a bumpy ride during its rollout. On Wednesday xAI announced that it was taking down "inappropriate posts" made by its Grok chatbot, which appeared to include antisemitic comments that praised . Shares of rose 3% at the opening bell after tumbling this week when the feud between Trump and Musk heated up again. Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. , source

Tesla announces November annual meeting under pressure from shareholders

has scheduled an annual shareholders meeting for November, one day after the electric vehicle company came under pressure from major shareholders to do so. Billionaire company said in a regulatory filing on Thursday that the meeting will be held on . A group of more than 20 shareholders said in a letter to the company a day earlier that it needed to provide public notice of the annual meeting. law states businesses must hold annual meetings within 13 months of their last one, if shareholders request it. But the law also allows for "written consent instead of the annual meeting" to be executed within the 13-month timeframe. is incorporated in . Many shareholders have been miffed by Musk's participation in the Trump administration this year, saying he needs to focus on his EV company which is facing extraordinary pressures. "An annual meeting provides shareholders with the opportunity to hear directly from the board about these concerns, and to vote for or against directors, the board's approach to executive compensation, and other matters of material importance," the group said in the letter. Tesla's last shareholders meeting was on of last year, where investors voted to restore Musk's record pay package that was thrown out by a judge earlier that year. also said in its regulatory filing on Thursday that is the new deadline for the submission of proposals to be included in the proxy statement. In a January filing, said it would file its proxy statement for this year's annual meeting by the end of April. However, the company filed an amended report on , saying that it didn't have a date for the meeting yet. also said in that filing that it was creating a special committee to look at Musk's compensation as CEO. Also on Thursday, Musk said that the Grok chatbot will be heading to vehicles. "Grok is coming to vehicles very soon. Next week at the latest," Musk said on social media platform X, in response to a post stating that Grok implementation on Teslas wasn't announced on a Grok livestream Wednesday. Grok was developed by Musk's artificial intelligence company xAI and pitched as an alternative to "woke AI" interactions from rival chatbots like Google's Gemini, or OpenAI's ChatGPT. Yet Grok has had a bumpy ride during its rollout. On Wednesday xAI announced that it was taking down "inappropriate posts" made by its Grok chatbot, which appeared to include antisemitic comments that praised . Shares of rose more than 3% in Thursday morning trading after tumbling this week as the feud between Trump and Musk heated up again. Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. , source