On April 29, 2024, Tesla, Inc announced that it has filed definitive proxy statement stating that it has received a shareholder proposal from James McRitchie requesting that the Company take all the steps necessary to reorganize the Board of Directors into one class, with each director subject to election each year for a one-year term. In addition, the Company recommended the shareholders to vote against the proposal at the annual meeting of shareholders scheduled to be held on June 13, 2024.