Tesla directors settle lawsuit above compensation for $735 million

Tesla directors settle lawsuit above compensation for 5 million

In this image illustration, the Tesla, Inc. logo is shown on a smartphone display.

Rafael Henrique | Lightrocket | Getty Visuals

Tesla Inc‘s directors agreed to settle a shareholder lawsuit tough their compensation by returning to the corporation the value of 3.1 million stock options, worth $735 million, according to a Monday submitting in a Delaware court docket.

The settlement resolves a 2020 lawsuit by a retirement fund which holds Tesla stock and challenged stock choices that were being granted to Tesla directors starting off in June 2017.

The settlement does not effects the $56-billion compensation package deal of Elon Musk, which is staying challenged by shareholders in a individual lawsuit that went to demo very last year. A ruling is envisioned soon in the Musk circumstance.

Supply

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