Broadcom backdating stock options Sxe chat live arbe
This apparently violates a whole bunch of SEC rules.Heinen also exercised and sold 400,000 back-dated shares.You see, if you backdate stock 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 price between the two dates.
Said another way, do the feds really need to dig that deep to find enough rope to hang executives with?Ruehle, left, and his attorney Richard Marmaro leave the Ronald Reagan Federal Courthouse in Santa Ana, Calif. 15, 2009, whether allegations of prosecutorial misconduct are serious enough to warrant throwing out a fraud and conspiracy case against Ruehle.(AP Photo/The Orange County Register, Mindy Schauer) ** NO SALES, MAGS OUT, LA TIMES OUT ** less FILE - In this June 5, 2008 file photo, Broadcom's former chief financial officer, William J.Anderson had already retired in 2004 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 aware of the options backdating, "he did not financially benefit from these grants or appreciate the accounting implications." In addition to vindicating Jobs, that same report fingered Heinen and Anderson.