The board members, including Elon Musk, reportedly reached a settlement following investor complaints that they were overpaid.
In addition to returning the $735 million, Tesla’s board of directors also said that they would not receive any compensation for 2021, 2022, and 2023, and were told to change how compensation is determined.
Members of the board include Oracle Corp. founder Larry Ellison, media mogul Rubert Murdoch’s son James Murdoch, Musk, and his brother Kimbal Musk.Chancellor Kathleen McCormick oversaw Musk’s $56 billion trial and was the same judge who required Musk to go through with his . She is now the judge overseeing the board of directors case and the settlement will not officially go through until receiving her final approval.
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