SEC approves Tesla program for auto-voting retail shares with board

The SEC allowed Tesla to let retail shareholders pre-commit their votes to follow board recommendations at every meeting until they opt out. Votes are cast as soon as Tesla files its definitive proxy, before shareholders receive it. The approval comes amid talk of a possible Tesla-SpaceX merger.

• Retail investors can pre-commit shares to vote with board recommendations
• Votes are cast when the proxy is filed, before shareholders receive it
• Retail investors voted only 28% of shares in 2025 vs 76.6% for institutions
• SEC approved Tesla's request the same day, September 29