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Technology Stocks : Apple Inc.
AAPL 273.40-0.1%Dec 26 9:30 AM EST
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To: Lizzie Tudor who wrote (68661)9/17/2007 2:13:23 PM
From: Cogito  Read Replies (1) of 213177
 
>>1. Somebody in the company chooses a date (usually the lowest in the quarter) to backdate all the new employee hire signon options. This person then either creates documents or uses a 10-yr old options software program that prints out SEC filing forms (kind of like turbotax) dated on the date of the low price stock grant date and NOT the actual date the document was created. This is fraud #1.<<

Lizzie -

To the best of my knowledge, this isn't what happened at Apple. My understanding is that a very few grants were backdated. It wasn't a standard practice for all new hire sign-on options, as it was at many other companies.

- Allen
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