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.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.
Steve Jobs has been in the news a lot lately for his stance on DRM, and before that for unveiling the much-anticipated i Phone.
Today he's in the news again for a story he'd rather just go away.
Its revenue and share price have both risen dramatically in recent years.
The SEC statement does not preclude additional action against individuals, said Marc Fagel, associate regional SEC director in San Francisco.
"Shortly after the Board approved the 7.5 million option grant, Jobs expressed dissatisfaction with its vesting schedule," the complaint said of the period after August 2001.