Tesla stock set for 3-for-1 split after market close

• Tesla shares will begin trading on a split-adjusted basis on Thursday.
• Shareholders voted to approve the 3-for-1 Tesla stock split at the company’s annual meeting in early August.

Investors in Elon Musk’s electric vehicle company will get two additional Tesla shares after the market close on Wednesday. And they will begin trading on a split-adjusted basis Thursday.

In a proxy filing earlier this year proposing the new split, Tesla wrote that the move was primarily intended to help the company “offer every employee the option of receiving equity,” and help Tesla “reset the market price” of its common stock to give employees “flexibility in managing their equity.”