8-KOther EventsExhibits & Filings

Tesla, Inc. 8-K Report, Corporate Update (Oct 11, 2016)

Filed October 11, 2016For Securities:TSLA

Summary

Tesla, Inc. (formerly Tesla Motors, Inc.) filed this Form 8-K on October 11, 2016, primarily to re-file two exhibits related to its agreement with Panasonic Corporation. This re-filing was prompted by comments from the Securities and Exchange Commission (SEC) concerning confidential treatment requests for specific portions of these exhibits. The filing does not amend or update the original financial reports (Q1 2016 10-Q and Q3 2014 10-Q) themselves, but rather addresses the disclosure of certain terms within these agreements. The re-filed exhibits include an Amendment to Gigafactory General Terms dated March 1, 2016, and the original General Terms and Conditions dated October 1, 2014. Both agreements involve Tesla and various Panasonic entities, and both have had portions subject to confidential treatment requests. Investors should note that this filing is procedural, focusing on the SEC's review of the confidential treatment of contract terms rather than new operational or financial developments.

Key Highlights

  • 1Tesla is re-filing two key exhibits related to its partnership with Panasonic.
  • 2The re-filing is in response to SEC comments regarding confidential treatment requests for specific contract terms.
  • 3The affected exhibits are an amendment to Gigafactory General Terms (March 1, 2016) and the original General Terms and Conditions (October 1, 2014).
  • 4These agreements are crucial for the Gigafactory operations, involving Panasonic's role in battery production.
  • 5The filing explicitly states that the original 10-Q reports for Q1 2016 and Q3 2014 are not being amended or updated.
  • 6Confidential treatment has been requested for portions of both re-filed exhibits.
  • 7The filing does not contain new financial results or significant operational updates.

Frequently Asked Questions

The main purpose of this 8-K filing is to re-file two exhibits containing terms of agreements between Tesla and Panasonic, in response to SEC comments regarding confidential treatment requests for certain portions of these agreements. It's a procedural filing to address SEC review, not to announce new business developments.

The filing re-files Exhibit 10.1, an Amendment to Gigafactory General Terms dated March 1, 2016, and Exhibit 10.2, the General Terms and Conditions between Panasonic Corporation and Tesla Motors, Inc. dated October 1, 2014. These relate to the Gigafactory and Panasonic's involvement.

No, the filing explicitly states that the Quarterly Reports on Form 10-Q for the periods ended March 31, 2016, and September 30, 2014, are not being amended or updated in any way. This filing only addresses the re-submission of specific exhibits for SEC review.

The filing mentions that confidential treatment has been requested for portions of these exhibits. While the exact reasons aren't detailed in this specific 8-K, such requests are typically made for competitive business reasons, such as protecting proprietary information, trade secrets, or sensitive commercial terms.