Apple corporation stock option backdating shekel of tyre dating
The latest revelation is likely to add to questions about Apple’s disclosures about its internal investigation into the backdating issue. Jobs over the matter, saying that while he had been “aware” of the backdating “in a few instances,” he “did not receive or otherwise benefit from these grants and was unaware of the accounting implications.” According to an Apple filing in 2002, the options under review were handed to Mr.
Jobs in October 2001, at an exercise price of .30 a share.
Steve Dowling, a spokesman for Apple, declined to comment on Jobs's conversations with Anderson.
Dowling emphasized that the SEC did not "file any action against Apple or any of its current employees." Government authorities praised Apple for coming forward with the backdating problems last year and for sharing information with investigators.
Jobs’ remuneration, as required by Apple’s procedures, were later falsified.
The special committee of outside directors, together with independent counsel and accountants, examined more than 650,000 emails and documents, and conducted interviews with more than 40 current and former employees, directors and advisors.A former chief financial officer of Apple reached a settlement with the Securities and Exchange Commission yesterday over the backdating of stock options and said company founder Steve Jobs had reassured him that the questionable options had been approved by the company board. Anderson, who left Apple last year after a board investigation implicated him in improper backdating, agreed yesterday to pay .5 million to settle civil charges. Heinen, former general counsel for Apple, with violating anti-fraud laws and misleading auditors at KPMG by signing phony minutes for a board meeting that government lawyers say never occurred. He said he warned Jobs in late January 2001 that tinkering with the dates on which six top officials were awarded 4.8 million stock options could have accounting and legal disclosure implications. Ehrlich said Heinen's actions were authorized by the board, "consistent with the interests of the shareholders and consistent with the rules as she understood them." Anderson issued an unusual statement defending his reputation and tying Jobs to the scandal in the strongest terms to date.News of the irregularities, which is expected to be revealed in a regulatory filing by Apple before the end of this week, will add to pressure that has been growing on one of Silicon Valley’s most highly-regarded companies since the middle of 2005.Apple is among more than 160 companies that have owned up to stock option backdating — handing options to executives and other employees at exercise prices that were set in hindsight at favorable levels — a scandal which has led to the departure of a number of chief executives.