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Posted by / 27-Nov-2020 13:59

Backdating job steve

Steve Jobs says he just wanted to feel appreciated when he asked Apple's board of directors for some additional stock options back in 2001 — but then things got all probey with US regulators.Forbes has managed to get its mitts on the Apple CEO's deposition with the US Securities and Exchange Commission conducted in the wake …

Corporations, however, have defended the practice of stock option backdating with their legal right to issue options that are already in the money as they see fit, as well as the frequent occurrence in which a lengthy approval process is required.It allegedly failed to inform investors, or account for the options expense(s) properly.Since the advent of stock option backdating, corporate policies have moved first toward a posture of encouraging backdating as a standard business practice, but then toward a posture of avoidance as public scandals emerged and investigations into fraudulent or dishonest business practices increased despite a commonly held belief that backdating was an acceptable and legal practice.Today is a significant date in Apple history, though, because it was one of the big scandals that rocked Apple during its big climb back to the top in the mid-2000s.Ultimately, the Apple stock-backdating scandal did not get pinned on Jobs.

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Typically, execs get the option to purchase a certain amount of stock at a set price.

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