San Francisco: Tech billionaire Elon Musk would not be joining Twitter’s Board of Directors but he may still engage with the social media company’s management on a variety of discussions, an amended regulatory filing with the US Securities and Exchange Commission (SEC) has clarified.
According to Teslarati, the Tesla and SpaceX CEO would be able to do this “without limitation”.
Musk’s update on his role as Twitter’s single largest shareholder was reflected in an amendment to a Schedule 13D filing, which was dated Monday, April 11, 2022.
As per the purpose of the transaction outlined in the document, Musk might acquire and sell additional Twitter shares as he sees fit. Interestingly enough, a seat on Twitter’s Board of Directors would have limited Musk’s stake in the company to 14.9 per cent.
But with Musk declining the appointment, he could now acquire more of Twitter, the report said.
The amended filing also noted that Musk could discuss a variety of key topics with Twitter’s management and Board of Directors.
These topics include Twitter’s products and services, possible mergers in the future, and governance issues.
The amended filing further highlighted that Musk would be free to express his opinions about Twitter on social media or speak with the company’s executives using the platform.
(IANS)
