Tag: stockoptions

Apple's board modifies Tim Cook's 2011 stock award to be based on performance

According to a filing Apple made with the SEC on Friday, Apple's Board of Directors decided to adjust Tim Cook's compensation package as it pertains to his stock options. When Cook became the CEO of Apple in August 2011, he was awarded 1 million restricted stock units, half of which are scheduled...

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Apple settles options backdating lawsuit

The Associated Press reports that Steve Jobs and other senior executives have settled a stockholder lawsuit claiming they mishandled stock option awards. Insurers representing Jobs and Apple's board will pay Apple, Inc. $14 million, which tidily covers almost $9 million in attorney's fees and expens...

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Apple, Jobs face new options backdating lawsuit

In another chapter in the scandal surrounding Apple's choice to back-date options granted to key executives (including Steve Jobs), two plaintiffs have filed a class-action lawsuit in federal court against two former executives and members of Apple's board of directors. Apple was sued similarly in 2...

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Apple CFO Fred Anderson settles for $3.5mil

Well, it looks like the stock options issue that has been pestering Apple for months now may be over. AppleInsider is reporting today that Apple's CFO Fred Anderson has settled with the Securities and Exchange Commission to the tune of three and a half million bucks. Mr. Anderson denies any wrongdoi...

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Jobs/Pixar cleared of backdating issues

Well, it seems that all of this may blow over...at least for Steve and the Pixar execs. Late last year, Pixar, Steve's other company which he sold to Disney, was forced to take another look at some accounting actions. One of the suggested possibilities was that Pixar's John Lasseter was given a back...

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Steve in trouble over stock options deal?

There's some more news today on the stock options story. According to AppleInsider, it has been suggested that Steve gave Pixar director John Lasseter a questionable, backdated stock option bonus. I must admit that I haven't really paid much attention to this story, mostly because it's still specul...

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Stock Options continue to haunt Apple

With the Macworld keynote still on the horizon, the last thing Apple needs is a few more lawsuits and federal investigations. The San Francisco Chronicle reports that Apple faces a new shareholder lawsuit along with twin investigations by the San Francisco's US Attorney's office and by the Securiti...

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Class action lawsuits filed against Apple

Just when you think Apple's financial woes have begun to recede, Forbes.com alerts us to a slew of recently filed class action lawsuits that all have the big fruit in their sights. First up is yet another complaint alleging that Apple has created a monopoly by tying iTS purchases to the iPod and onl...

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Stock options investigation delays Apple SEC filing

Apple's ongoing investigation into its stock option grants has delayed its SEC 10-K filing. The filing, which was due yesterday, may be delayed for as much as a month. If you recall, Apple admitted that employee stock options may have been been backdated. Companies use backdating in order to lower t...

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Apple's ex-lawyer retains her own lawyer

Nancy Heinen, Apple's former general counsel who was just replaced by Donald Rosenberg, has retained a Berkley white collar crime lawyer just in case she needs to defend herself against charges resulting from the whole messy options backdating problem. Heinen abruptly exited her post at Apple last s...

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Apple may restate earnings as far back as 2002

I'm no stock market maven, but something tells me this isn't good. It would seem that Apple's internal audits have found some 'irregularities' in the way the company handed out options. It boils down to mispricing, I believe, so that people could avoid paying huge taxes on their options. Apple has p...

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