Shareholders had sued, arguing that Mr. Musk’s compensation — which helped make him the world’s richest person — was excessive.
Shares in Elon Musk’s electric vehicle maker fell sharply after the company delivered lackluster quarterly results and declined to give full-year guidance.
Quarterly earnings soared from a year earlier after the company booked a tax benefit, but increased competition and a price war took a toll, the electric-car maker said.
Elon Musk, the electric car company’s chief executive, said he would “build products outside of Tesla” unless the board raises his stake to 25 percent.
Trevor Milton, who founded the truck company Nikola, will be sentenced on Monday in a fraud case that exposed the excesses in the electric vehicle business.
Exxon Mobil and Chevron are spending tens of billions of dollars buying oil and gas assets, betting that the International Energy Agency’s predictions of declining oil demand are wrong.
The Department of Justice has sought documents related to vehicle range and “personal benefits,” Tesla said.
Carmakers are anxious to keep costs down as they ramp up electric vehicle manufacturing, while striking workers want to preserve jobs as the industry shifts to batteries.
The world’s largest carmaker dominates the sales of hybrid cars but has been slow to sell all-electric vehicles, alienating some customers and hurting sales.
The biggest U.S. automaker sold more trucks and sport-utility vehicles as supply chain problems eased and demand remained strong.