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Technology Stocks : Apple Inc.

AAPL 259.35

+0.1%

Jan 9 9:30 AM EST

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From: Don Green	12/29/2006 4:42:50 PM
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Apple admitted that it faked a board meeting to award Jobs a stock-option grant of 7.5 million shares on Oct. 19, 2001, with an exercise price of $18.30, instead of the correct date of Dec. 18, 2001, when Apple was trading at $21.01. Jobs received that grant because substantially all his other options were worthless at the time due to the downturn in the stock market following the Internet bust. In March 2003, Job voluntarily cancelled that option grant and all his other options in return for 5 million shares of restricted stock. Based on the company's two-for-one stock split in February 2005, Jobs holds 10 million restricted shares with an exercise price of $7.45 a share.

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