Story perspectives
Tesla Directors to Repay $919 Million for Excessive Pay
1/10/2025
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Story summary
- Tesla's board, including Robyn Denholm and Kimbal Musk, must repay up to $919 million for excessive compensation.
- This settlement addresses a 2020 lawsuit from Detroit's Police and Fire Retirement System concerning director pay from 2017 to 2020.
- Directors will return $735 million in stock and options and forgo $184 million in future compensation.
- Plaintiffs are awarded $176 million in legal fees, exceeding Tesla's requested cap of $64 million.
