am i dating the wrong guy quiz - Steve jobs back dating options
That can mean a nice bonus if the company increased in value., which broke the backdating story, Jobs’ award of 7.5 million shares got approved at Apple’s August 29, 2001, board meeting. However, Jobs continued to argue over the point at which the options would vest.As Jack Shafer noted in 2005, even the press loves Jobs.
have led to the resignation of dozens of top executives and investigations by the Securities and Exchange Commission and federal prosecutors. 29, Apple discussed the report and accounted for the impact of the earnings restatements in its 10-Q.
But the options scandal has never touched a more exciting company than Apple or a more thrilling executive than Jobs. In June 2006, a special committee of Apple outside directors, chaired by former Vice President Al Gore, hired its own attorneys to investigate options backdating at the company. It turns out there were literally thousands of examples of backdating at Apple—6,428 options grants on 42 dates over a period of several years.
Apple is far from the only company to take advantage of this type of arrangement. Unlike an entrepreneur like Bill Gates, Jobs didn’t seem cash-hungry.
He was, after all, advertised as being a $1-per-year CEO.
The lower this “strike price” is, the less the executive pays for the stock.