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"In the SEC statement, it said it would not bring charges against Apple based in part on its swift, extensive and extraordinary cooperation in the commission's investigation," Apple spokesman Steve Dowling said."I don't think they dole these words out lightly." Heinen, 50, did not return a call to her home, but her lawyer said it was unfair to single her out for enforcement action among executives at more than 170 companies swept up in stock option scandals. Heinen engaged in fraud is to misunderstand the facts of what happened," Miles Ehrlich said in a statement.Apple is among more than 160 companies that have owned up to stock option backdating — handing options to executives and other employees at exercise prices that were set in hindsight at favorable levels — a scandal which has led to the departure of a number of chief executives.The latest revelation is likely to add to questions about Apple’s disclosures about its internal investigation into the backdating issue. Jobs over the matter, saying that while he had been “aware” of the backdating “in a few instances,” he “did not receive or otherwise benefit from these grants and was unaware of the accounting implications.” According to an Apple filing in 2002, the options under review were handed to Mr.In October 2003, as the computer world buzzed about what cool new gadget he would introduce next, Apple CEO Steve Jobs—then presiding over the most dramatic corporate turnaround in the history of Silicon Valley—found himself confronting a life-and-death decision.
And it just so happened that the date they selected was a recent low for the stock.
"Heinen caused Apple to award Jobs 7.5 million in-the-money options, while avoiding reporting approximately .3 million in pre-tax compensation expense," the filing said.
The SEC said it would not pursue charges against Anderson after he agreed, without admitting or denying the allegations, to pay about .5 million in fines and disgorgement of profit. Jobs Anderson's lawyer, Jerome Roth, said his client had warned Jobs about an executive stock option grant in January 2001, saying the grant would have to be priced based on the date of the actual Apple board agreement. Jobs that the Board had given its prior approval and the board would verify it," Roth said in a statement. Jobs and from them concluded the grant was being properly handled." Apple's share price briefly dropped nearly 4% on the SEC news before recovering to end down 0.3% at .24.
Records that purported to show a full board meeting had taken place to approve Mr.
Jobs’ remuneration, as required by Apple’s procedures, were later falsified.