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Apple investigating stock option grant irregularities

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By LC Angell

Contributing Editor
Published: Thursday, June 29, 2006
News Categories: Apple

Apple said today that an internal probe had discovered irregularities related to the issuance of stock option grants between 1997 and 2001. The company confirmed that one of the grants in question was to Apple CEO Steve Jobs, but said it was subsequently cancelled and resulted in no financial gain. Apple said it has notified the U.S. Securities and Exchange Commission and that a special external committee will perform an investigation. “Apple is a quality company, and we are proactively and transparently disclosing what we have discovered to the SEC,” said Jobs. “We are focused on resolving these issues as quickly as possible.”

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