$Tesla Motors(TSLA)$Electric-vehicle maker Tesla on Friday (June 10) proposed a stock split at a three-to-one ratio in the form of a stock dividend, according to a regulatory filing.The company said Larry Ellison, Oracle Corp's co-founder and a self-proclaimed close friend of Tesla Chief Executive Officer Elon Musk, will not stand for re-election to Tesla's board when his current term ends.Ellison is among the top investors who have promised funding towards Musk's US$44 billion acquisition of social media firm Twitter Inc.Tesla's stock split proposal will be put to vote on August 4 and if approved, it would be the latest after a five-for-one split in August 2020.The company will also ask shareholders to vote to reduce its board of directors' terms
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