The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Apple Finds Irregularities in Stock Option Grants

Apple Finds Irregularities in Stock Option Grants

by , 4:40 PM EDT, June 29th, 2006

Apple on Thursday announced that it has found irregularities in stock option grants issued between 1997 and 2001, including a grant to CEO Steve Jobs that was later canceled and resulted in no financial gain to him. The company said in a press release that it has hired independent counsel to investigate the matter further. It has also informed the SEC of the situation.

"Apple is a quality company, and we are proactively and transparently disclosing what we have discovered to the SEC," said Mr. Jobs said in the press release. "We are focused on resolving these issues as quickly as possible." The company added that it will not comment further on the situation until the investigation is concluded.

While Apple's stock jumped over 5% to US$58.97 during Thursday trading, on the strength of a broader Nasdaq rally, this news, which came after the close of the markets, led to a 2.87% drop to $57.28 in after-hours trading, as of 4:43 PM EST.


If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.

Recent Headlines - Updated February 13th

Mon,12:40 PM
Three Ways to Protect your Apple Watch (and One Way Not To)
Fri,7:07 PM
Apple’s First Scripted Series will Star Dr. Dre
7:07 PM
Adobe Creative Cloud Bug Deletes Files Without Permission
6:00 PM
AT&T Says it’s 5G Network will be 100x Faster than LTE
5:01 PM
My Classic Hard Disks Are Spinning Right into the Graveyard
4:54 PM
Bumprz 2: Minimalist Protection for iPhone on Kickstarter
4:51 PM
MGG 592: Taming Wi-Fi Chaos
1:45 PM
OK Go’s Parabolic Flight Video for ‘Upside Down & Inside Out’
1:35 PM
TMO Daily Observations 2016-02-12: 5G Wireless Speed Tests, Apple’s Growing Patent Infringement Mess
1:31 PM
Xtra Drive Lightning Flash Drive with 16GB Micro SD Card: $71.99
12:55 PM
How to Fix the ‘You Are Not Signed into Apple Music’ Error
10:38 AM
Immersion Sues Apple, AT&T Over Haptic Feedback Patents
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!