Tesla is planning a 3-for-1 stock mercurial, as indicated in an annual statement to the SEC the commerce provided ahead of its yearly stockholder meeting. 

In its statement, Tesla pitched the split as “help[ing] reset the market imprint of our common stock” to make it easier for employees to run their equity and make “common stock more accessible to our retail shareholders.”

Read more: Tesla Seeks Second Stock Split: What Investors Should Know

Tesla had been elegant open about wanting to split its stock. The carmaker is the third big tech commerce to do so this year after Amazon and Google separately mercurial their shares 20-to-1 (June 3 and July 1, respectively). 

In instant to the split, the SEC statement also revealed Oracle founder Larry Ellison would be stepping down from the lodging of directors. Ellison, the co-founder and current CTO of Oracle, has been on the board since December 2018.

Tesla did not reply to request for comment by time of publication.