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Executive Investigator
Tracking and Analyzing Executive Salaries, Bonuses, and Perks
 Friday, December 29, 2006
Apple Computer, Inc. (NDAQ:AAPL) released its 10-K annual report today after delaying it while the company investigated irregularities with the company's stock option grants. In the explanatory note in the beginning of the filing, Apple noted that while the company would face an $84 million charge related to the stock option grants, Steve Jobs and other senior executives would not involved in the scandal. Al Gore, chair of the special committee, said, "The board of directors is confident that the company has corrected the problems that led to the restatement, and it has complete confidence in Steve Jobs and the senior management team". The company found that while Jobs was aware of, or recommended the selection of, some favorable grant dates, he neither benefited financially from them nor "appreciated the accounting implications" of his actions. Consequently, Steve Jobs' and other executives appear to be safe, and the company's stock has rebounded 5% in today's trading.

Friday, December 29, 2006 8:20:25 PM UTC  #    Comments [0]  |  Trackback