Tesla directors, including Chair Robyn Denholm and James Murdoch, have received court approval for a settlement worth up to $919 million to resolve allegations of overpaid compensation. The settlement requires board members to return approximately $277 million in cash, $459 million in stock options, and forgo stock options for 2021-23 worth $184 million.
The settlement, not covered by insurance, was approved by Chancellor Kathaleen McCormick in a telephonic hearing. The directors did not admit wrongdoing, and the settlement marks the second-largest ever in Delaware's Court of Chancery for shareholder litigation.
