The SEC sued Ms. Heinen in April claiming she inappropriately backdated stock option grants for company executives including a 7.5 million share grant to Mr. Jobs. Mr. Jobs later surrendered the options without exercising them.
Apple was the focus of an SEC investigation for allegedly backdating stock option grants to be more favorable to the recipients. Apple conducted its own independent investigation that cleared its high profile CEO of any wrong doing.
Former CFO Fred Anderson was also under investigation at one point, but settled with the government for his involvement in the backdating incidents. He agreed to surrender US$3.5 million in gains from stock option grants he was awarded, and pay a $150,000 fine. In exchange, he did not have to admit that he did anything wrong.
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