Sec stock option backdating cases
After all, stock option backdating is all the rage these days.
We're talking top executives at big-name companies like Apple, Altera, Broadcom, Brocade, Cirrus Logic, Comverse, KLA-Tencor, Maxim, Mc Afee, Rambus, Sanmina-SCI, Take Two, Trident, Verisign, and Vitesse. That's serious fallout considering that options backdating is legit as long as the company reports it and accounts for it accurately.
Or that an investigation by Disney into options backdating at Pixar also cleared Jobs of any wrongdoing, even though he helped negotiate the deal in which Pixar's star film director, John Lasseter, received backdated options.
The bottom line: Claims that Jobs was unaware of the accounting implications of backdating are hardly believable, but there was no evidence to the contrary.
The charges relate to two large options grants to senior executives of Apple, including a grant to Chief Executive Steve Jobs of 7.5 million options in December 2001.
Apple, the fast-growing consumer electronics company, was also investigated for irregularities over its accounting for stock options awarded to employees. “I cherish the great people I worked with at Apple, and I am proud of my contributions to its historic turnaround and current success,” Heinen said in a statement.