Tesla directors agree to return $735m to settle claims they were grossly overpaid
by Reuters from Technology | The Guardian on (#6D22R)
Shareholders sued the directors over stock option awards in 2017, accusing them of unfair and excessive compensation
Tesla Inc's directors will return $735m to the company to settle claims they grossly overpaid themselves in one of the largest shareholder settlements of its kind, according to a Monday filing in a Delaware court.
The settlement resolves a 2020 lawsuit by a retirement fund that holds Tesla stock and challenged stock options that were granted to Tesla directors starting in June 2017.
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