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Technology Stocks : Apple Inc.

AAPL 271.84

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From: Don Green	10/11/2006 10:54:08 AM
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Apple directors may face options questions Google chief and ex-IBM CFO handled backdated options probe of iPod maker, but their involvement raises conflict of interest questions, paper says. October 11 2006: 7:43 AM EDT SAN FRANCISCO (Reuters) -- A probe by directors of backdated stock option grants at Apple Computer Inc. involved two directors who may face options issues themselves, TheWall Street Journal reported Wednesday. Jerome York, the former chief financial officer of IBM (Charts) who was an Apple director responsible for awarding some of the options in question, recused himself from the three-member special committee's examination for the time he was involved. York also recently stepped down from his director position at General Motors (Charts). The paper also said Google Inc. (Charts) Chief Executive Eric Schmidt is another member of Apple's special board committee investigating options who may be caught up in a separate options backdating probe at his prior company. Schmidt was CEO at Novell between 1997 and 2001, part of a period that is the subject of an internal probe of possible options backdating issues. The period in question runs back a decade. Schmidt only joined Apple's board in late August. Former Vice President Al Gore, the third member of the committee, joined the board after the Apple options practices at issue were granted. An Apple spokesman would only acknowledge the special board was made up of three members but would not confirm their identities to the Journal. The options in question date from 1997-2002. The Apple spokesman was not immediately available for comment to Reuters late on Tuesday.

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