Steve Jobs recommended backdating?

From the Apple 10-K, filed today:

Although the investigation found that CEO Steve Jobs was aware or recommended the selection of some favorable grant dates [emphasis mine], he did not receive or financially benefit from these grants or appreciate the accounting implications.

This sentence seems to get worse with each edit. Here’s how it was in Apple’s October press release on the stock option investigation:

In a few instances, Apple CEO Steve Jobs was aware that favorable grant dates had been selected, but he did not receive or otherwise benefit from these grants and was unaware of the accounting implications.

So, the part about Steve recommending backdating is new. Ouch.

Update: A MarketWatch story on this. (via Daniel Jalkut, who also entertains us with some Apple + Nintendo news today)

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MK&C is an eight-person software development studio in Helsinki, Finland. We specialize in designing and developing human-friendly software for the Mac, iPhone and iPod touch platforms.

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This page contains a single entry by Marko Karppinen published on December 29, 2006 5:59 PM.

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