$Tesla Motors(TSLA)$Tesla Inc. shareholders cleared the way Thursday for the company to complete its second stock split in about two years, based on a preliminary vote count.

Elon Musk's electric-vehicle maker, whose stock price has roughly tripled in the past two years, is planning a 3-for-1 stock split that the company has said is designed to make ownership more accessible to employees and individual investors. Tesla needed shareholders to sign off on issuing the new shares to complete the split. The move wouldn't affect the company's market value, which topped $960 billion as of Thursday.

That proposal was among more than a dozen facing investor consideration at Tesla's annual shareholder meeting, held at the company's Austin, Texas-area factory.

The gathering followed a recent rally in Tesla's stock price after the company reported second-quarter earnings that were better than expected. Tesla generated $2.3 billion in profit for the period, ahead of Wall Street's expectations but below its record quarterly profit of $3.3 billion in the first three months of the year.