Brocade stock backdating Unregistered chat porn cams
One explanation was that options were being backdated to before major rises.That idea broke from academia into the business mainstream in 2006, and backdating scandals swept like wildfire in 2006, involving companies as famous as Apple, Dell and Broadcom.When they don't they simply adopt the stock exchange's own rules.These rules say that options can't be granted when executives have access to unpublished price-sensitive information.That way you make even more money when you sell the share at today's prices.
In fully listed companies that includes people discharging managerial responsibility.
News of the action against the former Brocade executives comes after last week’s announcement that dozens of Silicon Valley companies are under investigation by the US Attorney General’s office for alleged stock option backdating. As part of Computer Weekly’s 40th anniversary celebrations, we are asking our readers who and what has really made a difference.
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The US Securities and Exchange Commission (SEC) is taking action against Gregory Reyes, Brocade's chief executive until 2005, Stephanie Jensen, its former vice-president of human resources, and Antonio Canova, the company's former chief financial officer.
The SEC said it had more than 80 similar active investigations into possible stock option backdating nationwide.Many privately held companies rely on an HM Revenue and Customs-agreed valuation to fix a market value option price, typically for Enterprise Management Incentive ("EMI") option.