Executives of software giant Computer Associates Inc. will return 4.5 million shares of stock awarded under a company compensation plan to settle shareholder lawsuits filed in Delaware and New York.
Computer Associates officials said March 31 that Chief Executive Charles Wang, Chief Operating Officer Sanjay Kumar and Executive Vice President Russell Artzt would return the shares — valued at more than $263 million — to end legal skirmishing over a Delaware Chancery Court ruling that the share award violated the terms of the company’s executive compensation plan.
