Tesla Directors Forego $735M in Historic Settlement

Haye Kesteloo
07/17/2023
Tesla

Tesla im Rampenlicht: Ermittlungen des Justizministeriums und Zukunftspläne — Tesla in the Spotlight: Justice Department Probes and Future Plans Photo courtesy of Tesla, Inc.

In a recent turn of events, Tesla Inc’s board members have opted to settle a lawsuit brought forward by shareholders. The suit had contested the directors’ compensation, resulting in them relinquishing the value of 3.1 million stock options, equating to $735 million, back to the company.

This settlement was revealed in a court filing in Delaware this past Monday. The lawsuit, initiated in 2020 by a retirement fund holding Tesla shares, objected to stock options granted to Tesla directors from June 2017 onwards.

Importantly, the settlement leaves untouched the whopping $56-billion compensation package of Tesla’s CEO, Elon Musk, which is under dispute in another, unrelated lawsuit. The judgment for that case is expected imminently.

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Haye Kesteloo

Haye Kesteloo ist die Chefredakteurin und Gründerin von EVXL.cowo er über alle Nachrichten im Zusammenhang mit Elektrofahrzeugen berichtet und dabei Marken wie Tesla, Ford, GM, BMW, Nissan und andere berücksichtigt. Eine ähnliche Rolle erfüllt er bei der Drohnen-Nachrichtenseite DroneXL.co. Haye ist zu erreichen unter haye @ evxl.co oder @hayekesteloo.

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