Steve jobs back dating options
In a statement that followed his settlement with the SEC, Anderson largely shifted the blame for his involvement in a backdated 2001 Executive Team grant back to Jobs.
He claimed that Jobs came to him in late January of 2001 and informed him that he had received the Board's approval for the massive grant, when in fact no approval had been granted.
The company and its independent auditors are reviewing the findings of the independent investigation.
Management continues to believe, and the audit committee agrees, that Apple will likely need to restate its historical financial statements to record non-cash charges for compensation expense relating to past stock option grants.
Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh.
Today, Apple continues to lead the industry in innovation with its award-winning desktop and notebook computers, OS X operating system, and i Life and professional applications.
They are completely out of character for Apple," said Steve Jobs, Apple's CEO.
As part of the deal, he agreed to a fine of 0,000 and to repay about .5 million in disgorgement of profit, without admitting or denying any wrongdoing.
Apple initiated this voluntary independent investigation after a management review discovered irregularities in past stock option grants.• In a few instances, Apple CEO Steve Jobs was aware that favorable grant dates had been selected, but he did not receive or otherwise benefit from these grants and was unaware of the accounting implications.• The investigation raised serious concerns regarding the actions of two former officers in connection with the accounting, recording and reporting of stock option grants.
The company will provide all details regarding their actions to the SEC."I apologize to Apple's shareholders and employees for these problems, which happened on my watch.
Jobs, the co-founder of Apple, who is deeply revered in Silicon Valley, was the driving force in a conspiracy to prevent competitors from poaching employees. Jobs seems never to have read, or may have chosen to ignore, the first paragraph of the Sherman Antitrust Act: Every “conspiracy, in restraint of trade or commerce” is illegal, the act says.
“Every person who shall make any contract or engage in any combination or conspiracy hereby declared to be illegal shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine” or “by imprisonment not exceeding three years, or by both said punishments.”Mr.