Backdating job steve dating wifes cousin
When SEC lawyers asked Jobs if he had a "general understanding" about Generally Accepted Accounting Principles, the CEO's response was "Not really," according to Forbes' report.The end of the three-hour interview hinted at the state of Jobs' health."Thanks," said Jobs, expressing relief that the interview was over. My body thanks you."Jobs in January announced his six-month medical leave due to "complex" health issues.
I thought I was doing a pretty good job."In 2006, the SEC accused Apple of backdating — the act of dating a grant of an employee stock option prior to the date that the company actually granted the stock option — to under-report its expenses by $40 million.
The SEC alleged Apple shifted those dates to sweeten executive packages for Jobs, then-CFO Fred Anderson and former general counsel Nancy Heinen.
After all, stock option backdating is all the rage these days.
You'd think they'd be up to their eyeballs in rope.
But Jobs has been on the hot seat since last year, when Apple acknowledged it backdated thousands of grants to employees, sometimes at Jobs’ direction. Attorney’s Office in San Francisco have continued to look into the matter, including interviewing Jobs – and signs point to the SEC soon finishing its investigation.
An internal investigation released in December found no evidence of wrongdoing by Jobs, but that did not remove the cloud of suspicion over the company’s powerful CEO. From the start, the focus has been Jobs’ 2001 receipt of 7.5 million options that were backdated through minutes of a board of directors meeting that never occurred.
In his three-hour interview with the Securities and Exchange Commission, Jobs claimed he was ignorant of the backdating and accounting consequences, adding that he was pressured to ask for a generous stock-options package because his board was not supportive of him."Everybody likes to be recognized by his peers," Jobs told an SEC lawyer, according to the Forbes report.
"I felt that the board wasn't really doing the same with me....
I just felt like there is nobody looking out for me here, you know....
So I wanted them to do something, and so we talked about it....
In Heinen's case, the SEC said she participated in the "fraudulent backdating of options granted to Apple's top officers that caused the company to underreport its expenses by nearly million." After news of the case first broke, it was revealed that CEO Steve Jobs knew that favorable grant dates, i.e.