Tesla Shareholder Voting - Board Recommendation Versus Vote Results

By Karan Singh
Not a Tesla App

Yesterday on X, Elon Musk posted that the two key resolutions for the upcoming Shareholder Meeting were both passing by wide margins – and would subsequently go on to pass at today’s Shareholder Meeting.

Musk Compensation Package and Tesla’s Move to Texas

The two key resolutions, one on Elon Musk’s performance-based compensation package, and the other on Tesla’s re-incorporation to Texas, both passed in the preliminary stages. Each required a minimum number of ‘Yes’ votes to pass at the Shareholder Meeting.

The performance-based compensation package only required a simple majority – a certain number of Yes votes, with abstentions not counting as Nos. On the other hand, the move to Texas required a full majority, with abstentions counting as Nos.

Elon Musk declared his victory on X in these two key votes, and Tesla’s share prices moved favorably in post-market, and then again in pre-market trading. This is a positive indicator for Tesla and Elon Musk. On X, Elon recently agreed that given he has received a controlling stake in Tesla, he would work towards making Tesla the most valuable company on Earth.

Other Resolution Results

The first five proposals are Tesla corporate proposals, while the remainder are shareholder proposals, and are covered in the table below. For more details, you can read Tesla’s Proxy Package. The proposals are ordered below in the order of presentation.

All the proposals passed in line with the board’s recommendation, except for two, which were to reduce director terms to one year and for simple majority stockholder voting.

Resolution

Board Recommendation

Vote Result

Elect 2 Directors for a 3 Year term (James Murdock, Kimball Musk)

For

For

Non-Binding Advisory-basis Executive Compensation

For

For

Move Tesla to Texas

For

For

Elon Musk’s Compensation Package

For

For

Appoint PricewaterhouseCoopers as Tesla’s accounting firm.

For

For

Reduce Director Terms to 1 Year

Against

For

Simple Majority Stockholder Voting

Against

For

Annual Report on Anti-Harassment and Discrimination

Against

Against

Freedom of Association and Collective Bargaining Policy

Against

Against

Report on EM Radiation and Wireless Technologies, and effects on humans.

Against

Against

Adopting targets and reports for sustainability metrics for executive compensation

Against

Against

Moratorium on sourcing minerals from deep-sea mining.

Against

Against

Shareholder Meeting Event

You can view Tesla’s shareholder meeting below:

Musk Confirms Tesla FSD V12.5 Is Being Tested on Chuck’s Turn

By Karan Singh
Not a Tesla App

Yesterday, Elon Musk confirmed that FSD V12.5 is being tested on Chuck’s Unprotected Left Turn. This is a big step – as we usually see Chuck’s UPL getting tested a few weeks or months before the release of another set of software.

Chuck’s Left Turn

Chuck’s Unprotected Left Turn, or UPL, has regularly been seen as a challenge for FSD. Chuck’s UPL is a complex, 2-stage unprotected left turn into high-speed traffic. Ever since 2022, Tesla has been testing on Chuck’s UPL, which is in Jacksonville, Florida.

Vehicles are intersecting from different sides at different portions of the turn, making it one that is truly difficult for both humans and for FSD to get right. It can be a difficult challenge for regular drivers, and ensuring FSD gets it right every time Tesla releases a new build seems to have become a bit of a tradition for Tesla.

As such, we generally see Chuck’s UPL getting tested by Tesla’s ADAS testers prior to a new build being prepared for release to employees. These ADAS testers are pretty obvious – they’ve got manufacturer plates on, and the telltale 2-second halt at stop signs.

FSD V12.5 Around the Corner?

Although Tesla is already testing FSD 12.5, it doesn’t necessarily mean that v12.5 is around the corner just yet – there are still plenty of users that still need to receive FSD v12.4.3 before Tesla jumps to v12.5. About 20-25% of FSD users now have FSD 12.4.3, but most are still on update 2024.14.9 with FSD 12.3.6.

FSD v12.5 is expected to begin features such as fleet communication and the merger of city and highway software stacks, to FSD.

What we’re seeing in Florida on Chuck’s turn (Tesla refers to Chuck Cook in release notes) is likely just the ADAS testers working on the early builds of v12.5. As such, don’t get too wrapped up around v12.5 – most are still waiting for nag-free FSD for the most part.

Tesla Update 2024.26.1: Changes and More Information About Tesla's Summer Update

By Karan Singh
Not a Tesla App

Tesla has been preparing another large update with its upcoming 2024.26, but as Tesla gets ready to release it to customers, it looks like we may see some changes. We’ve previously called this the Summer Update, and we’re going to stick with that.

Leave your Spring umbrella behind, and grab some sunglasses (or not, if you have FSD in North America) and let’s take a look at update 2024.26.1.

YouTube Music

It looks like YouTube Music, which was being tested in update 2024.26, isn’t available in 2024.26.1. YouTube may have been in early stages of testing or Tesla found some bugs with the feature that need to be addressed before a public release.

YouTube Music is still coming, but right now it looks like it’ll arrive in a point-release update, (e.g. 2024.26.X). This way, at least all the other features will arrive for everyone, rather than delaying the entire release for a few bugs with YouTube Music.

While we’re sad to see the delay for this music app, this is exactly why Tesla tests things in advance with their QA team and fleet of wave 1 employees. We’ll be glad to see it arrive in our cars when its bug-free, and at least we’re still getting Amazon Music with update 2024.26.1.

Updated Climate Panel

There’s a new Climate screen in update 2024.26, however, it looks like it’ll be just for the Model 3 and Model Y initially. The Model S and Model X use practically the same interface, but it may need some adjustments for the larger screen before it’s released. It’s not clear whether it’ll be available for the Cybertruck out of the gate.

We haven’t seen any images of the updated climate panel yet, but it looks like it’ll be a drastic departure from the screen we know today. It’s expected to include options to automate preheating and precooling of the vehicle on certain days and times and it could make other options more intuitive such as turning off vents on the passenger side (tap and hold the airwaves, but only works on some vehicles).

Other often requested features are to make it easier to turn on the Keep Climate, Dog Mode, and Camp Mode options when the vehicle is put into park.

Many customers have also requested passenger presets so the vehicle could remember settings for different passengers. This could be used for features like passenger climate settings, seat position, seat heater and more, but instead of multiple passenger settings, we may see Tesla add Passenger Profiles that could be used for a wide variety of features. Back in 2021, Musk agreed that it would be a good addition.

Castle Doombad Classic

One addition we saw from update 2024.26 to 2024.26.1 was the addition of the full Castle Doombad Classic game. Castle Doombad has you play as the villain as you defend your castle, but it’s only available on AMD Ryzen-based vehicles (MCU 3). It was released in the 2023 Christmas update and with this 2024.26.1 update the game goes from a demo to the full classic game.

Weather Forecasting

Finally, the Weather Forecast app – a pop-out display when you tap the temperature reading – will be arriving with support for North America, Europe, and other regions. Likely, this will include most regions, but you’ll need to shell out for Premium Connectivity.

The AQI (Air Quality Indicator) is already available in China and should be available in most regions as well, but it will also require Premium Connectivity. You can read more about the weather and AQI features here.

Release Date

Tesla appears close to starting the public release of this 2024.26.1 update. Tesla has recently released major versions (like 2024.26) to employees only and then released a bug fix update as a point release before making it available publicly.

Update 2024.26.1

FSD Supervised 12.3.6
Installed on 0% of fleet
0 Installs today
Last updated: Jul 16, 5:51 am UTC

We could see Tesla release 2024.26.1 as early as this week if further issues aren’t identified, although, in typical Tesla fashion, it’ll be a very gradual release.

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