Stock option backdating closure letter
Here's a look at companies that have come under scrutiny for past stock-option grants and practices.
THIS SCORECARD WAS LAST UPDATED IN SEPTEMBER 2007 AND IS NO LONGER BEING UPDATED. Note: This list contains companies that have disclosed government probes, misdated options, restatements and/or executive departures as of Septmeber 2007.
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As a result, it is possible that Activision will be required to record additional stock-based compensation expense related to stock-option grants.
On June 7, 2007, the company said the SEC issued a formal probe order related to its stock-options grants.
Or did a lot of CEOs just have amazingly good luck?
The topics addressed in this letter largely relate to questions about whether a company’s determination of the measurement date of past stock option awards was appropriate.(Headlines)The Dallas technology outsourcer acknowledged May 10, after a preliminary internal probe, that it had issued executive stock options that carried "effective dates" preceding the written approval of the grants.ACS said it plans a charge of as much as million to rectify its accounting related to the grants. Edwards signed separation agreements with ACS that will allow them to remain with the company during a transition period ending June 30, 2007.Take this example, from The Wall Street Journal, which began investigating the practice last fall: "Suppose an executive gets 100,000 options on a day when the stock is at .Exercising them after it has reached would bring a profit of times 100,000, or million.
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Clearly, the Enron trials have not closed the book on corporate fraud.