Corporate governance stock option backdating Sex chatrooms for iphones text

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Backdating can have tax consequences in relation to the following: To qualify as an ISO, the share option must have, among other things, an exercise price at least equal to the market price at the time of grant.

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The restating is subject to the requirements under section 13(a) of the Securities Exchange Act of 1934 (Exchange Act) of accurate and timely financial reports.

This may mean a restatement of earnings will be necessary.

For example, in December 2007, the SEC settled an enforcement action in an options backdating case against William W Mc Guire, the former CEO and Chairman of United Health Group, Inc.

for a record US$468 million (about EUR301 million).

The finding demonstrated a well-timed coincidence that triggered a number of further investigations by the SEC and the DOJ. It replaced the long-standing Accounting Principles Board Opinion No.

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