02/09/2007, 11:55am, EST
Friday, February 9th
'Well-timed' Pixar options signed by Jobs
Apple in late June announced that an internal investigation had turned up 'irregularities' related to the issuance of certain stock option grants made between 1997 and 2001, with one of the grants in question issued to Jobs. The investigation has thus far resulted in several shareholder lawsuits against the Cupertino-based company, the launch of an official SEC investigation that is still ongoing, and a restatement of Apple's earnings resulting in an $84 million charge to rectify thousands of improperly backdated stock options grants to employees and executives.
Federal officials recently questioned Jobs in San Francisco as part of their ongoing investigation, following news that Apple's chief was given 7.5 million stock options in 2001 without the required authorization from the company's board of directors.
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What's your problem?
do you know for sure that Pixar didn't report it properly? None of the articles say that it was reported incorrectly.
All the article says is that the options were backdated (nothing wrong with that) and Jobs signed off on it (nothing wrong with that).
The article doesn't say if Pixar then didn't report the options properly.
I'm glad you're not in charge of the backdating investigations. You jump WAY before having ALL the facts.
Backdating is no illegal. Failing to report properly is but it is not the responsibility of the CEO to do that. That is why they hire supposedly competent CFO's to handle all that Financial stuff.
It doesn't matter if he should have known. He's in charge and, as such, is responsible. At least that what leaders do. Take the bullet for failing their people.
He may have more sway at Pixar, where he seems to keep a hands off approach. At Apple, being the hands on guy in charge, it really does lay in his lap.