On February 9, 2024, Nikola Corporation announced that its Board of Directors has rejected a slate of 5 nominees proposed by M&M Residual, LLC controlled by former Executive Chairman Trevor Milton for election as directors at Nikola's 2024 Annual Meeting of Stockholders. The Company added that its Board of Directors opposes the nominations made by Trevor Milton and would disclose its director nominees when its proxy statement is filed with the Securities and Exchange Commission.