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 Headlines - Updated November 23rd

Sat,10:30 AM
iPhoneography 101: Essential iPhone Camera Apps
Fri,6:57 PM
Apple Makes ‘Things for iPad’ Free for a Week
6:47 PM
Judge Approves Apple iBooks $450 Million Antitrust Settlement
5:54 PM
100 AA and 52 AAA Duracell Batteries for $59.99 [Extended]
5:18 PM
Use a PDF to See How Big Apple Watches Really Are
4:45 PM
Why Every Estimate for Apple Watch Sales in 2015 is Completely Wrong
4:30 PM
‘Kingdom Rush Origins’ Tower Defender Released for iPhone and iPad
1:42 PM
TMO Daily Observations: 2014-11-21
11:53 AM
Google Agrees to Settlement in Rockstar Patent Infringement Fight
9:44 AM
Apple Blocks Outdated Flash Players Over Security Issues [Update]
9:00 AM
iOS 8: Using “Send Last Location”
Thu,8:05 PM
SwiftKey Adds Languages in iOS Without App Store Updates
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!