Backdating stock options steve jobs aol 9 5 restarting issue updating
Anderson settled his case, but Heinen is still on the hook and expects to go to trial sometime next year.Mather, Anderson and Heinen, through their lawyers, have strenuously denied wrongdoing.
So he had to have a little talk with them about swapping his 20 million then-underwater options for 7.5 million new ones, which they did. I was trying to help Apple by getting some of the Ne XT people into some jobs where they could help Apple, and that’s pretty much all I was doing. It took until December that year until terms were finally agreed, at which point Apple’s stock price was now .01.Backdating was then carried out to give Jobs a lower share price which, on paper, made him million richer. Ultimately, it seems that Jobs swapped these options for restricted stock of lesser value.But as yet another executive who was once close to Jobs comes under the backdating cloud, one has to wonder: Is Jobs as innocent as Apple Inc. Or is the government afraid to go after one of the most respected leaders of American business? You can put him up there with Bill Gates and Warren Buffett," said Peter Henning, a professor who studies white-collar crime at Wayne State University in Detroit and one of the few legal scholars still paying attention to stock-options backdating."If you are going to put a case against him, you had better be sure it's a strong case." To be sure, regulators have in the past gone after celebrity business leaders.