Nikola founder Trevor Milton forfeits $166 million in stock he would have lost anyway and gets to keep $3.1 billion under separation deal

from the company he started. However, the EV executive gets to walk away with more than $3.1 billion in stock as part of a separation agreement reached over the weekend.

Milton, who's come under scrutiny in recent days, agreed to give up his position and duties as executive chairman of the board as well as all other board seats on the company's subsidiaries, according to the agreement dated Sunday. The deal strips the 39-year-old entrepreneur of any say in the company's operations and blocks him from attempting to influence any decisions for at least three years, according to a company filing with the Securities and Exchange Commission on Monday.

Milton agreed to advise the company as an unpaid consultant on an ad hoc basis through the end of the year, but he cannot comment about the, blogs or other online platforms without legal approval from Nikola, according to the deal. The value of his exit package will vary over time as the start-up's shares have swung wildly since it went public on June 4. The agreement requires Milton to give up roughly 4.9 million in restricted, performance-based shares valued at $166 million as of Friday's closing price of $34.19 a share while allowing him to walk away with more than 91.6 million shares that appear to be free of any restrictions and were worth over $3.1 billion.

Milton's resignation sent shares of the company down sharply in premarket trading Monday before opening at $24.97 – their

Such generosity ....😝

I would leave my company for $3B too

Who’s laughing all the way to the bank? Unbelievable

Because he’s a crook!

Sooo, he lost a few million to keep the few billion? Boohoo.. 🤦‍♂️

ThinkTankCharts Milton be like... NikolaGate TrevorMilton

Is this purge or exile ?

Crook wins

SEC_Enforcement , where have you been all this time? This is well beyond hilarious and grotesque. The stock market is not supposed to be a Monty Python stage.

Chump change, enabled by bigger chumps.

MiguelICarlos We bet that Crypto community won’t mind if Trevor put his money to Bitcoin 😂

ThinkTankCharts Scammer of the decade. No technology. No product. Just BS

Seems fair to me . What’s the problem?

he fooled millions and walks away with billions! where is the justice, law and order?

Props for being a really good con artist. (tbh he wasn't even good but people still fell for it)

might be an idea to cash them while they have value to pay for potential future legal fees

Nice deal for all the hype and hope he created! 🤦🏻‍♂️

But the stock's worthless really.

.

Where is he and when’s the trial?

Biggest fleecing not seen in -------- years. Snake oil salesman

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