Wall street journal options backdating sample dating site message
Just so, which midlevel investigator at the Securities and Exchange Commission would have the temerity to recommend to Chairman Christopher Cox that the agency haul the most successful Silicon Valley entrepreneur into court?Which junior federal prosecutor will recommend indicting the guy who smashed the PC monopoly?But it could lead to a false disclosure, which may, in turn, violate federal securities laws.Company stock option plans are on file with the SEC, with a description of how the strike prices are calculated.
But Jobs is the lone exception, as revered today as he ever was.But Apple makes clear that Jobs was directly involved in some instances of backdating.The investigation "found that CEO Steve Jobs was aware or recommended the selection of some favorable grant dates." The committee hastens to add that Jobs "did not receive or financially benefit from these grants or appreciate the accounting implications." In other words, he didn't recommend backdating his own option grants.And he never cashed in those options because they were replaced in 2003 by a grant of restricted stock.CEOs at other companies have been forced to resign for such activities. His job may be saved by the fact that he did not directly profit.