Stock option backdating closure letter dating research paper
The company said prior to receiving the request, it did an internal review of all equity compensation activities since its February 1996 IPO, and said it "believes that there have been no unusual patterns in the timing or pricing of its equity awards and that there is specifically no evidence of backdating of option awards.
On June 1, 2007, Arthro Care said the SEC has completed its formal investigation of the company and that doesn't plan to recommend any enforcement action against Arthro Care.
It is being examined by the Securities and Exchange Commission. 7, the company announced that investors should no longer rely on its prior disclosures about the findings of its continuing internal probe. Noncash compensation costs related to backdating will be about $51 million, plus additional tax-related expenses.
It had previously said a preliminary review suggested no intentional backdating occurred and any charges were likely to be minor. (Headlines) (Options chart) The maker of gene-testing devices said on Aug 1 that an internal probe has uncovered "certain documentation lapses" in its stock options grant processes from 1997 through 1999, including one instance when the option grant date should have been recorded differently.
Director Fred Anderson, who served as the company's chief financial officer from 1996 until 2004, resigned from its board of directors. On April 24, 2007, the SEC filed civil charges against Apple's former general counsel, Nancy Heinen, and former CFO Fred Anderson for their alleged involvement in backdating of stock options at Apple. Anderson settled the charge with the SEC without admitting wrongdoing.
(Options chart) (Headlines) The Sunnyvale, Calif., semiconductor company disclosed on June 27 that it received a subpoena from the U. attorney for the Northern District of California related to its stock-option practices. Attorney's Office for the Northern District of California doesn't intend to continue its investigation of the company's option-granting practices and is withdrawing its subpoena, but that it has received a subpoena from the U. Attorney's Office for the Southern District of California relating to its past options grants. 14, the company said its audit committee has concluded that Applied should have used different measurement dates for computing costs for certain stock option grants, and the company now expects to recognize up to $200 million in compensation expense beginning in fiscal year 1998, primarily relating to options awarded during fiscal years 2000 through 2002. 10, 2007, Applied said it completed its investigation and the net restatement adjustment from the investigation was $74.3 million, affecting fiscal years 1999 through first quarter of 2004, comprised of $95.2 million of stock-based compensation offset by $20.9 million of tax benefits.
(Headlines)On June 21, 2006, Altera said its special committee has reached a preliminary conclusion that actual measurement dates for certain option grants issued between 19 differed from the recorded grant dates, and that it expects to restate its financial statements for the fiscal years ended 1996 through 2005.