On September 17, 2019, Plaintiffs informed the Delaware Court of Chancery that the parties had agreed to settle the action. The settlement, which is subject to Court approval, requires salesforce.com to limit non-employee director compensation for its 2020-2024 fiscal years to no more than the total compensation paid to non-employee directors at the 75th percentile of salesforce’s peer companies, a benefit worth over $10 million. The Notice of Pendency of Settlement can be found here.
The Court of Chancery has scheduled a Settlement Hearing for December 17, 2019, at 1:30 p.m.