Backdating of stock option

Stephen Bigler has over 30 years' experience counseling corporations, officers, directors, board committees, stockholders, and investors on matters involving the General Corporation Law of the State of Delaware and related issues of fiduciary duty arising in a wide variety of transactional and operational contexts.Steve's practice also includes entity formation, mergers, acquisitions, divestitures, defensive planning, capital-raising transactions, and stockholder meetings.KB Home also announced the resignation of its head of human resources, Gary A.

The specified price on an option contract at which the contract may be exercised, whereby a call option buyer can buy the underlier or a put option buyer can sell the underlier.In 2007 the US Securities and Exchange Commission announced that it would not file charges against Apple, but had filed charges against two former executives for their alleged roles in backdating Apple options.Yes, of course, there's much more that can be said about Jobs and my Forbes colleagues are saying all of it over here.But this price allegedly should have been .10, thereby incurring a taxable charge of million that Jobs did not report as income.In 2006 an internal company inquiry found that this grant was "improperly recorded" as having been made at a special board meeting that never took place, but largely exonerated Jobs over the matter, saying that the options had been returned without being exercised and that he was "unaware of the accounting implications".

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