NPR logo

Apple CEO to Answer for Backdated Stock Options

  • Download
  • <iframe src="https://www.npr.org/player/embed/14586537/14586365" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Apple CEO to Answer for Backdated Stock Options

Technology

Apple CEO to Answer for Backdated Stock Options

Apple CEO to Answer for Backdated Stock Options

  • Download
  • <iframe src="https://www.npr.org/player/embed/14586537/14586365" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

The U.S. Securities and Exchange Commission has reportedly ordered Apple Inc.'s CEO Steve Jobs to answer questions in a case against the company's former general counsel. Nancy Heinen is accused of backdating more than $20 million in stock options for Steve Jobs and other executives. That refers to pushing back the stock date to a time when the price was lower, to increase its cash value. Apple has acknowledged Jobs was involved in some backdating. But the company claims he didn't do anything wrong, because he didn't "appreciate the accounting implications."

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.