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Steve Jobs TV interview about movies in iTunes and backdating scandal (2006)




Backdating option scandal stock

Backdating option scandal stock


That's serious fallout considering that options backdating is legit as long as the company reports it and accounts for it accurately. For instance, public companies generally grant stock options in accordance with a formal stock option plan approved by shareholders at an annual meeting. In the modern business world, the Sarbanes-Oxley Act has all but eliminated fraudulent options backdating by requiring companies to report all options issuances within 2 days of the date of issue. He also exercised and sold , back-dated shares. That seemed like a contradiction to me, but whatever. Come clean, and do it early. Thus, backdating can be misleading to shareholders in the sense that it results in option grants that are more favorable than the shareholders approved in adopting the stock option plan. Since at-the-money options require a firm's share price to appreciate in order for the executives to profit, they meet the criteria for performance based-compensation and therefore qualify as a tax deduction. Any remaining pattern is concentrated on the couple of days between the reported grant date and the filing date when backdating still might work , and for longer periods for the minority of grants that violate the two-day reporting requirements. The new regulations should have removed most opportunities for backdating. This apparently violates a whole bunch of SEC rules.

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Backdating option scandal stock. In options backdating scandal, shareholders are real victims.

Backdating option scandal stock


That's serious fallout considering that options backdating is legit as long as the company reports it and accounts for it accurately. For instance, public companies generally grant stock options in accordance with a formal stock option plan approved by shareholders at an annual meeting. In the modern business world, the Sarbanes-Oxley Act has all but eliminated fraudulent options backdating by requiring companies to report all options issuances within 2 days of the date of issue. He also exercised and sold , back-dated shares. That seemed like a contradiction to me, but whatever. Come clean, and do it early. Thus, backdating can be misleading to shareholders in the sense that it results in option grants that are more favorable than the shareholders approved in adopting the stock option plan. Since at-the-money options require a firm's share price to appreciate in order for the executives to profit, they meet the criteria for performance based-compensation and therefore qualify as a tax deduction. Any remaining pattern is concentrated on the couple of days between the reported grant date and the filing date when backdating still might work , and for longer periods for the minority of grants that violate the two-day reporting requirements. The new regulations should have removed most opportunities for backdating. This apparently violates a whole bunch of SEC rules.

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2 thoughts on “Backdating option scandal stock

  1. [RANDKEYWORD
    Meztijora

    One of the larger backdating scandals occurred at Brocade Communications , a data storage company. Fourth, many of the grants even at the executive and director level have never been filed with the SEC.

  2. [RANDKEYWORD
    Faenos

    O, Silicon Image Inc.

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