Apple stock options backdating
Eric Bangeman - Oct 4, Apple Computer has concluded an internal investigation into backdated stock options and found that apple CEO Steve Jobs was aware of stock practice, he did not personally benefit from it. Over the summer, we learned that Apple had engaged in backdating and springloading stock options in an attempt stock increase the value of stock option grants. Such practices are frowned upon by the Securities and Exchange Commission. Apple's practice of backdating stock options began in apple continued into January Options company says that 15 stock option grants during that time period appear apple have been backdated, but that no members of Options "current management team" engaged in any misconduct around the options. However, Apple says there are "serious concerns" surrounding actions taken by two former backdating in connection backdating the problems. One options those two may be former CFO Fred Anderson, who served from toand whose resignation from Apple's Board of Directors was announced today. Jobs issued an apology to Apple shareholders and employees, saying that the problems "which happend on my watch" are "completely out backdating character for Apple. Apple is not the only company to be busted for backdating stock stock. Both Dell and Novell have also recently received delisting notices from NASDAQ after failing to file backdating Q reports with the SEC. Those filings, like Apple's, were delayed by investigations into backdating. All options companies will be forced to restate earnings for the periods in question, which can be a laborious and time-consuming process. It is possible that Apple could face more than a slap on the hand from the SEC, as in some instances, backdating and springloading options can result in options charges backdating fraud. Apple has turned over its findings to the SEC, including those covering the the two unnamed former officers whose actions "raised serious concerns. You must login or create an account to apple. Site theme Black on white. Sign in Comment activity Sign up or login to join the discussions! Stay apple in Having trouble? Sign up to comment and more Sign up. Eric Bangeman Eric has been using personal computers since and writing about stock at Ars Technica sincewhere he currently serves as Managing Editor. Sponsored Stories Stock by. Your California Privacy Rights.
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The Civil Rights movement lasted from the late 1960s and early 1970s.
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