Tesla's recent 10-K/A filing with the Securities Exchange Commission reflects the confidence it has in CEO Elon Musk's leadership as well
Tesla’s recent 10-K/A filing with the Securities Exchange Commission reflects the confidence it has in CEO Elon Musk’s leadership as well as its current board of directors. Tesla filed its Annual Report on Form 10-K for the fiscal year ending December 31, 2022 on February 7, 2022. In the explanatory note, Tesla stated that this amendment was being filed to do these three things:
File new certifications of our principal executive officer and principal financial officer as exhibits to this Amendment under Item 15 of Part IV hereof, pursuant to Rule 12b-15 under the Securities Exchange Act of 1934, as amended . In the filing, Tesla also added that Elon Musk’s Twitter post about taking Tesla private and the ensuing drama posed no restriction on Elon Musk’s ability to serve as an officer or director on the board other than its Chair for a specified time. Here’s exactly what Tesla said:
“The SEC knew that the funding was secured, but they pursued an active public investigation nonetheless. At the time, Tesla was in a precarious financial situation, and I was told by the banks that if I did not agree to settle with the SEC that the banks would cease providing working capital and Tesla would go bankrupt immediately.
“Mr. Musk historically earned a base salary that reflected the applicable minimum wage requirements under California law, and he was subject to income taxes based on such base salary. However, he has never accepted his salary. Commencing in May 2019 at Mr. Musk’s request, we eliminated altogether the earning and accrual of this base salary.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Google Docs expands warnings about dodgy files and linksAlong withe Sheets and Slides files.
Read more »
NY Young Republican Club leader files motion to stop Assembly redistrictingThe Court of Appeals did not throw out the Assembly maps in its ruling last week that declared the congressional and Senate maps as unconstitutional for partisan gerrymandering.
Read more »
N.J. family files petition after special needs daughter misses track meetThe petition was filed by Dana Carney, a special needs advocate with Ignite Kids Advocates.
Read more »
Dfinity Foundation files lawsuit against Meta over infinity logoDfinity Foundation’s legal team claimed Meta Platforms was registering use of its logo, which also uses the mathematical symbol for the concept of infinity, “in some of the same or similar areas in which Dfinity has already obtained registration for its mark.”
Read more »
Woman bitten by copperhead inside restaurant still suffering 5 years later, files lawsuit“I have more than 75 percent of my body that is in so much pain; that it’s almost impossible to describe. You feel like you’re burning from deep inside your bones.”
Read more »