Apple reveals stock option errors

Computer and electronics firm Apple has filed its financial reports on the last possible day, following delays linked to the backdating of stock options.

The firm said it had incurred a charge of $84m for misdated options, including some awarded to boss Steve Jobs.

But Apple reiterated that its probe had found no misconduct by any current management, including Mr Jobs.

Like many other tech firms, Apple has admitted that some options awarded to executives had had their dates changed.

The effect of such a change could make options more lucrative when cashed in, if the changed date produced a lower price at which they could be exercised.

Many of the more than 150 firms implicated in backdating have been investigated by the Securities and Exchange Commission (SEC).

Apple said it was providing both the SEC and the Department of Justice with details of its internal inquiry.

The company also reported its results for the year ending in September 2006, which showed a 39% increase in sales to $19.3bn.

View: BBC News

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20 Comments

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Very sad comments in here, people wanting to see someone in jail cause they personally don't like him rather then if he was innocent or guilty, you really need to get lifes

If you had done what they did you'd be sitting in prison right now. Jobs is guilty. You don't run a multi billion dollar company and have no clue.

So an Apple investigation cleared Apple's senior management.... Gee did they need a gun put to their heads for those findings :nuts:

IF anyone does jail time, Jobs is the least likely, the head of accounting is likely the one going to jail so stop salivating over the prospect of Jobs doing any time.

I think its highly unlikely case Jobs was granted options without his knowledge.
At the most though he will probably have to step down and/or pay a fine for stealing from the other share holders.

Its not the first time he has stolen what would rightfully belong to others.
He cheated his own friend Steve Wozniak not once but several times.

Quote - [Fosters
said,#9.1]I think its highly unlikely case Jobs was granted options without his knowledge.
At the most though he will probably have to step down and/or pay a fine for stealing from the other share holders.

Its not the first time he has stolen what would rightfully belong to others.
He cheated his own friend Steve Wozniak not once but several times.

Could we have facts and evidence instead of just aspersions please

errors? So fraud is just an error for Apple? They should mistakenly arrest anyone involved, then... :P