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 Stock Drops Following Options Article

Apple Stock Drops Following Options Article

by , 9:45 AM EST, December 28th, 2006

Apple Computer's stock dropped in early morning trading after a report in the Financial Times stated that Steve Jobs received stock options in 2001 without authorization from the board of directors. The report claims that a report showing Apple's board discussed a US$7.5 million stock option grant for the CEO was falsified.

Mr. Jobs later surrendered the options in question without exercising them, and did not receive any financial benefits from them.

The Financial Times article cites unnamed sources that are "familiar with the matter." These sources also claim that the SEC is looking into the faked document as possible evidence should the agency decide to file a case against Apple.

The news started a second day of up-and-down stock value for the iPod and Mac maker. In pre-market trading, Apple's stock dropped from yesterday's closing at $81.52 down to $78.80.

On Wednesday, Apple's stock dropped following news that the company may have falsified documents related to stock option grant backdating. By the end of the trading day, however, Apple's stock had recovered and was up a penny.

Apple stock is currently trading at $80.20, down 1.32 (1.62%).


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.

Digg!

Recent TMO Headlines - Updated June 26th

Fri, 5:06 PM
’Obi-Wan Kenobi’ Star Moses Ingram to Join Cast of Apple TV+ Series ‘Lady in the Lake’
Fri, 4:31 PM
Chris Evans Stuns the Internet By Upgrading His iPhone 6
Fri, 4:12 PM
Leaks Suggest Next AirPods Pro to Upgraded H1 Chip, Find My, Heart Rate Detection, USB-C and More
Fri, 3:06 PM
Rumors Suggest Apple to Announce 'Game-Changer' AR/MR Headset January 2023
Fri, 3:05 PM
Apple’s Back to School Promo Could Score You a $150 Gift Card
Fri, 2:21 PM
Apple-1 'Byte Shop' Model Goes for $375,000 at Thursday Auction
Fri, 1:22 PM
Code in iOS 16 Betas Hint at New Siri Remote for Apple TV
Fri, 8:32 AM
Apple’s Long Game in Mobile and Portable Computing; Choice and Versatility
Fri, 7:32 AM
Apple Music Student Plan Gets a Price Increase in US, UK and Canada
Fri, 7:03 AM
Google Chrome on iOS Gets Five New Features
Thu, 5:40 PM
Using Measurement Conversions in iOS 16
Thu, 4:37 PM
Apple TV+ Series 'Trying' Reveals Season 3 Trailer Before July Premiere
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Daily Observations
  • TMO on Twitter!