Filed in archive executive pay by leon on March 18, 2007

The sound you hear is Apple chief Steve Jobs digging himself out of the hole he has helped create by all those backdated options.

First at one end, a Disney probe has confirmed there was some backdating but it appears to clear Jobs of any wrong doing, reports the Mercury News.

I had looked at the history of that little problem here.

Then to sort out the enormous tax problems associated with its backdated options, something I had described as the tax man's Al Capone solution, Apple has announced that its offering relief for some those affected.

More about that in this news report.

Under the offer, option holders have until April 16 to take up an offer which will let them modify the option and get a cash payment to pay the tax bill.

Related Entries:

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Questions continue about Apple's options - 17 October 2006
Stock options backdating: six degrees of separation - 20 October 2006
Report that Apple falsified documents: don't worry, be happy... - 27 December 2006
Bad taste of Apple's options - 02 January 2007
The Apple case: where to now? - 27 January 2007
Gonzales and the Ken Lay defence - 19 March 2007

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Response from: BizzBites.com

Apple chief Steve Jobs is digging himself out of the hole he has helped create by all those backdated options. First, a Disney probe has confirmed there was backdating but appears to clear Jobs of any wrong doing. Then Apple has announced its unbackdat...

Response from: news.fatpitchfinancials.com