Report: Jobs waited 8 months before filing
WASHINGTON, Jan. 23 (UPI) -- Apple Inc. chief executive Steve Jobs waited two-thirds of a year to report his receipt of 7.5 million improperly backdated stock options, a U.S. probe finds.
The timing beat the federal deadline, but broke with common practice among other Apple officers and directors, who submitted similar reports within weeks, The Washington Post reported Tuesday.
That's clearly an anomaly worth pursuing, former U.S. Prosecutor Michael Levy of the white-collar group at the McKee Nelson law firm in Washington said.
Jobs' August 2002 Securities and Exchange Commission statement said he received the options Oct. 19, 2001. Apple later acknowledged he actually got them in December 2001, when their value was significantly less because of changes in the stock price.
Jobs filed his personal disclosure about eight months later.
Three other directors waited only four weeks to disclose their options, the Post said.
An Apple spokesman said Apple's exhaustive investigation found no evidence Jobs had been involved in backdating irregularities.
A U.S. attorney's office spokesman said, − We've said repeatedly and publicly that something comes into the U.S. attorney's realm ... when there's an intent to defraud. // Copyright 2007 by United Press International
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