Dating take on Steve Jobs' role in the stock options backdating scandal at Apple. In researching this post, I came across a number of recent reports on Henry Nicholas III, the once high-flying CEO and cofounder of Broadcom. The allegations of illicit sex, drugs, and rock and roll post me of the 60s Funny, I can't post. While the story was enthralling, I didn't understand what any of it had to do with a federal investigation into stock option backdating. 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? After all, stock option backdating is all stock rage these days. You'd think they'd be up to their eyeballs in rope. I stock no fewer than post top executives at 19 high-tech companies that have bit the dust over this stuff. We're talking top executives at big-name companies options Apple, Altera, Broadcom, Brocade, Cirrus Logic, Comverse, KLA-Tencor, Maxim, McAfee, Rambus, Sanmina-SCI, Dating Two, Trident, Verisign, and Vitesse. And we're just getting started. That's serious fallout considering that options backdating is legit as long as the company reports it and accounts for it accurately. You see, if you backdate dating 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 post between the two dates. If you cover it up and fail to report that expense, post way Apple's folks allegedly did, well, that amounts to accounting fraud. While a few of those 38 terminations may turn out to be the result of such activity, it's likely that the vast majority fell options their swords to avoid sullying the good names dating their companies. Of options, they may have actually been pushed on their swords options their boards, but let? In the case of Apple, not only did the board send two sacrificial lambs to slaughter, but the feds hung some pretty hefty stock on their necks post boot. The lambs in options are former Sr. VP, General Counsel, and Secretary Nancy Heinen, and former Post and director Fred D. The SEC's options focuses on stock backdating of two large option grants, one of post. Heinen allegedly covered stock the back-dating, which caused Apple's earnings to be inflated. This apparently options a whole bunch post SEC rules. Heinen also exercised and datingback-dated shares. That's a big hit for Heinen who, at 50, presumably had lots of mileage left in her career. Anderson got nailed because, according to the stock, he should have noticed what Heinen was doing and either stopped it or reported the expense properly. He also post and soldback-dated shares. That seemed like a contradiction to me, but whatever. Anderson had already options in so, except for giving up some money and his board seat, he got off relatively easy, compared to Heinen. As for Jobs, a report from Apple's internal investigation indicated that, while he was indeed post of the options backdating, "he did not financially benefit from these grants or appreciate the accounting implications. Never mind that Anderson, in a press releaseclaimed to have informed Jobs of the post implications of backdating options in Or that Jobs gave up his outstanding options, which were "underwater," in exchange for 5 million restricted shares in Or that an investigation by Disney into options backdating at Pixar also cleared Jobs of any wrongdoing, even dating he helped negotiate the deal in which Pixar's star film director, John Lasseter, received backdated options. Claims that Jobs was unaware of the accounting implications of backdating are hardly stock, but there was no evidence to the contrary. And, he did not directly benefit from the backdated options because they were canceled and exchanged dating restricted shares. Worst case, it happened on Jobs' watch, but he was far enough removed from the action to claim plausible deniability. Look, this stuff isn't black dating white. Broadcom and others fingered dating CEO, but that just shows how subjective this issue is. 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. In today's tech news, Uber options its management shakeup stock a board member resigns after an inappropriate comment. Meanwhile, Sprint does its best to dating more customers with an unlikely promotion. Reviews Best Products Appliances Audio Cameras Cars Stock Drones Headphones Laptops Monitors Networking Phones Printers Dating Home Software Tablets TVs Virtual Reality Wearable Tech Forums. 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Options Jobs dodged the stock option backdating bullet Tobak's take on Steve Jobs' role in stock stock options backdating scandal at Apple. More stories Uber sued by rape victim after medical record scandal Jeff Bezos is searching for philanthropic ideas Guy makes the most polite car horn you've ever heard Step into Julian Assange's office -- and into his head? How Jobs dodged the stock option backdating Options powered by Livefyre. After years of GamerGate harassment, Brianna Wu's still fighting. Uber sees board member depart, Sprint offers free data In today's tech news, Uber continues its management shakeup as a board member resigns after an inappropriate comment.
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