Your guess is as good as anyone's, and that is some good conjecture. As for whether such a thing is legal, IMO if it's part of a settlement (which could have virtually any terms the parties desire - it's between the parties), I cannot fathom how it could be illegal.
The only concern with this scenario, IMO, would be the timing of the share acquisition (insider trading concern). However, IF the acquisition/transfer of shares were to occur at the prevailling PPS AFTER settlement announcement, I see no concerns at all.
A source for clarification here may be our (PTSC's) deal with AMD, where AMD got shares.
JMHO,
SGE