Marathon Digital reaches $24M settlement with ex-CEO Merrick Okamoto

Bitcoin (BTC-USD) miner Marathon Digital (NASDAQ:MARA) has agreed to pay Merrick Okamoto, the company's former CEO and chairman, $24M in a settlement deal, according to an SEC filing dated Monday.The agreement was in connection with a dispute about the settlement of certain restricted stock unit awards granted to Okamoto, who retired from his roles at the company last year. He was succeeded by the current CEO and chairman, Fred Thiel.Okamoto, meanwhile, agreed to a broad release of known or unknown claims against MARA relating to its 2018 incentive plan, the filling said.The miner also reached settlements regarding certain stock unit awards previously granted to five other individuals, including Thiel, which total ~$1M.Marathon Digital (MARA) stock gapped up 13.3% amid a broad risk-on day, especially as bitcoin (BTC-USD) rose 1.1% to $19.54K.Previously, (Oct. 6) Marathon Digital bitcoin production nearly doubles to 360 in September.