: Tesla seeks to reduce board terms in October shareholder meeting

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Tesla Inc. set its shareholder meeting for Oct. 7 at the Fremont, Calif., factory, with a call for reducing its board’s size and directors’ terms among the proposals the electric-car maker will bring to the table, the company said in filing late Friday.

One of the proposals calls for each director’s term to reduced from three years to two years. Tesla’s

board currently has nine members who are divided into three classes in staggered three-year terms.

Tesla shares were flat in after-hours trading after ending the regular trading day down 0.7%.