Sec stock option backdating cases

You see, if you backdate stock options to a date when the price of the stock was lower, then the options are "in-the-money" when granted.That means the company incurs an expense equal to the difference in the share price between the two dates.Never mind that Anderson, in a press release, claimed to have informed Jobs of the accounting implications of backdating options in 2001.Or that Jobs gave up his outstanding options, which were "underwater," in exchange for 5 million restricted shares in 2003.

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The bottom line: Claims that Jobs was unaware of the accounting implications of backdating are hardly believable, but there was no evidence to the contrary.But how does that relate to hiring prostitutes and drugging customers without their knowledge?Said another way, do the feds really need to dig that deep to find enough rope to hang executives with?At the end of the day, Jobs dodged a bullet because of 1) his value to Apple's shareholders, 2) his value to the U. economy, and 3) just plain luck that neither Apple's board nor the SEC found a smoking gun to force them to do something they didn't want to do.) general counsel Nancy Heinen has agreed to pay .2 million to settle options backdating charges, the U. Securities and Exchange Commission said on Thursday.

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