Backdating of options

After accounting for forfeitures, Apple was forced to recognize stock-based compensation expense of 5 million on a pretax basis that it hadn't done so previously.Apple has essentially blamed former chief financial officer Fred Anderson and former general counsel and board secretary Nancy Heinen, both of whom are no longer with the company.No one's pay was "inflated" by backdating, unless you assume that the alternative would have been awarding executives exactly the same number of options at less-advantageous prices.Which, of course, you shouldn't assume since any sensible employee can see that if his each stock option is worth less, he should get more of them.This article will attempt to provide reasons why this issue is important, why civil and criminal authorities are investigating, and why it is critical that public companies who issued options over the past...Vitesse Semiconductor was a fabless American semiconductor company based in Camarillo, California, which developed high-performance Ethernet integrated circuits solutions for Carrier, Enterprise networks.

The basic idea was that many companies seemed to award stock options on days when their stocks were at low-points, which increased the value of the options when the stock increased and made the stock cheaper to buy for the executives.It later raised venture capital from Sequoia Capital and New Enterprise Associates.It changed its name to Vitesse Semiconductor in 1987. In 1999, it acquired Xa Qti and in 2000, acquired Sitera Vitesse was one of the early developers of gallium arsenide (Ga As) based integrated circuits.Additionally, given my risk function and the risk function of VCs, this appears to be a better deal for everyone.Like most people, extra income gives me diminishing utility, but VCs have an arguably nearly linear utility in income.

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