Tesla Directors Forego $735M in Historic Settlement

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

Haye Kesteloo is hoofdredacteur en oprichter van EVXL.cowaar hij al het nieuws over elektrische voertuigen verslaat, met aandacht voor merken als Tesla, Ford, GM, BMW en Nissan. Hij vervult een vergelijkbare rol bij de nieuwssite voor drones DroneXL.co. Haye kan worden bereikt op haye @ evxl.co of @hayekesteloo.

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