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Steve jobs apple options backdating

The company was the most prominent of several to have engaged in similar behavior, including Broadcom, Novell, Mc Afee and CNET.Because of how widespread the behavior was, it never presented a realistic possibility that Jobs would lose his, err, job as part of the scandal. 12, 2007 Apparently, Fred Anderson is the “Fredo” of the Apple options backdating family. It’s raised questions, but some of the journalism has been so off the mark. It’s painful to read some of this stuff, but I know it’s kind of ridiculous and will pass.” – Apple CEO Steve Jobs, the New York Times, Jan.This morning Anderson, who resigned as Apple’s CFO in October of 2006, issued a statement claiming that he advised Apple CEO Steve Jobs of the accounting implications that might arise from the backdating of stock-options grants in January 2001.This, of course, runs contrary to the party line at Apple, which has held, vehemently, that Jobs wasn’t aware of the accounting implications of backdating.However, it was certainly enough to cause a bit of concern at Apple, considering the crucial role Jobs had played in turning the company around since his return a decade earlier.The scandal also challenged people’s perception of Apple as “the good guys” and Jobs’ as a CEO who wasn’t money-hungry.

The end of the three-hour interview hinted at the state of Jobs' health."Thanks," said Jobs, expressing relief that the interview was over. My body thanks you."Jobs in January announced his six-month medical leave due to "complex" health issues.(Over the next year, this perception that Apple was no longer a scrappy underdog fighting the establishment would again be challenged when Apple sought legal action against bloggers for reporting on the company’s trade secrets.) In the end, the SEC announced in April 2007 that it would not pursue a case against Apple — in part because the company had set up an internal investigation into the stock scandal so rapidly.However, Apple’s former CFO Fred Anderson, who was on Apple’s board, and general counsel Nancy Heinen, did have complaints made against them.He was the first person to be criminally prosecuted in the Silicon Valley stock option fraud scandal.Reyes was fined million and sentenced to 21 months in federal prison after being found guilty in 2007 of picking favorable dates in the past for the awarding of stock options without revealing that information to shareholders. Circuit Court of Appeals tossed Reyes conviction Tuesday, finding that prosecutors lied to the jury in final arguments, telling them that no one in the Brocade's finance department knew about the backdating.He was the first of more than a dozen executives who faced criminal prosecution in the wide-ranging scandal. The news, centered on the dubious awarding of stock options to Steve Jobs, prompts Apple share prices to fall.Jobs and Apple settled the shareholder lawsuit for million.Heinen and Anderson paid fines of .2 million and .3 million, respectively, without pleading guilty.(who broke the backdating story), Jobs was awarded 7.5 million shares approved at Apple’s August 29, 2001, board meeting. However, because Jobs continued to argue over the point at which they would vest, Apple missed the deadlines it needed to file the right information with the Securities and Exchange Commssion and its auditors.It took until December that year until terms were finally agreed upon, at which point Apple’s stock price was .01.


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