Backdating softwae trading stock stocks
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The news, centered on the dubious awarding of stock options to Steve Jobs, prompts Apple share prices to fall.
Some people even suggest Jobs might have to step down as Apple CEO. Stock options are frequently tied into executives’ compensation, giving them the option of purchasing a certain amount of stock at a set price.
However, Apple’s former CFO Fred Anderson, who was on Apple’s board, and general counsel Nancy Heinen, did have complaints made against them.
Ultimately, Anderson resigned and Heinen paid a .2 million fine without admitting liability.
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The scandal also challenged people’s perception of Apple as “the good guys” and Jobs’ as a CEO who wasn’t money-hungry.