Inc backdating

Posted by / 15-Aug-2017 00:48

Inc backdating

For that, the feds seek disgorgement of the ill-gotten gains (about

For that, the feds seek disgorgement of the ill-gotten gains (about $1.6 million), plus an order barring her from serving as an officer or director of a public company.That's a big hit for Heinen who, at 50, presumably had lots of mileage left in her career.If you cover it up and fail to report that expense, the way Apple's folks allegedly did, well, that amounts to accounting fraud.While a few of those 38 terminations may turn out to be the result of such activity, it's likely that the vast majority fell on their swords to avoid sullying the good names of their companies.Of course, they may have actually been pushed on their swords by their boards, but let? In the case of Apple, not only did the board send two sacrificial lambs to slaughter, but the feds hung some pretty hefty charges on their necks to boot. VP, General Counsel, and Secretary Nancy Heinen, and former CFO and director Fred D. The SEC's complaintfocuses on the backdating of two large option grants, one of 4.8 million shares for Apple's executive team and the other of 7.5 million shares for Steve Jobs.Heinen allegedly covered up the back-dating, which caused Apple's earnings to be inflated.However, if those option-granted shares were held for over a year, the total amount of taxes paid could be reduced to as low as 15%.

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For that, the feds seek disgorgement of the ill-gotten gains (about $1.6 million), plus an order barring her from serving as an officer or director of a public company.

That's a big hit for Heinen who, at 50, presumably had lots of mileage left in her career.

If you cover it up and fail to report that expense, the way Apple's folks allegedly did, well, that amounts to accounting fraud.

While a few of those 38 terminations may turn out to be the result of such activity, it's likely that the vast majority fell on their swords to avoid sullying the good names of their companies.

Of course, they may have actually been pushed on their swords by their boards, but let? In the case of Apple, not only did the board send two sacrificial lambs to slaughter, but the feds hung some pretty hefty charges on their necks to boot. VP, General Counsel, and Secretary Nancy Heinen, and former CFO and director Fred D. The SEC's complaintfocuses on the backdating of two large option grants, one of 4.8 million shares for Apple's executive team and the other of 7.5 million shares for Steve Jobs.

.6 million), plus an order barring her from serving as an officer or director of a public company.That's a big hit for Heinen who, at 50, presumably had lots of mileage left in her career.If you cover it up and fail to report that expense, the way Apple's folks allegedly did, well, that amounts to accounting fraud.While a few of those 38 terminations may turn out to be the result of such activity, it's likely that the vast majority fell on their swords to avoid sullying the good names of their companies.Of course, they may have actually been pushed on their swords by their boards, but let? In the case of Apple, not only did the board send two sacrificial lambs to slaughter, but the feds hung some pretty hefty charges on their necks to boot. VP, General Counsel, and Secretary Nancy Heinen, and former CFO and director Fred D. The SEC's complaintfocuses on the backdating of two large option grants, one of 4.8 million shares for Apple's executive team and the other of 7.5 million shares for Steve Jobs.Heinen allegedly covered up the back-dating, which caused Apple's earnings to be inflated.However, if those option-granted shares were held for over a year, the total amount of taxes paid could be reduced to as low as 15%.

The bottom line: Claims that Jobs was unaware of the accounting implications of backdating are hardly believable, but there was no evidence to the contrary.In a settlement announced concurrent with the complaint, Anderson - who neither admitted nor denied the allegations - agreed to pay back .6 million and never to do bad stuff again.That seemed like a contradiction to me, but whatever.At the end of the day, Jobs dodged a bullet because of 1) his value to Apple's shareholders, 2) his value to the U. economy, and 3) just plain luck that neither Apple's board nor the SEC found a smoking gun to force them to do something they didn't want to do.Backdating refers to the procedure of dating any document to a date earlier than the application date.

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