Who is responsible for granting stock options?
The Board of Directors. The backdating scandal brought with it calls for reform and an end to insider, absentee boards. Among the most high profile company’s implicated in this scandal was Apple Computer. When things at Apple are going great, all the credit goes to Steve Jobs, the co-founder who came back and rescued the company with the iMac and iPod. When Apple gets implicated in the backdating scandal, suddenly they aren’t sure who really runs the company. Could the great Steve Jobs be implicated himself? Do you know what that could mean for the stock price? Apple did what everyone caught with their hand in the cookie jar does, they appointed a blue ribbon panel to investigate. New York Times Apple Panel On Options Backs Chief December 30, 2006 …a special committee of its (Apple’s) board had found that its chief executive, Steven P. Jobs, was not responsible for improper dating of stock options at the company. Not only was Jobs not responsible, the special committee had, “complete c
