Restricted stock backdating

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Legal experts and lawyers familiar with the grant say it would be difficult for prosecutors to base a securities fraud case against Jobs since his grant was approved by the board.

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But he accepted just

But he accepted just $1 in annual salary when he took the CEO job.

“That would seem to distinguish the Apple situation.” So what actually happened with the 2001 grant?

According to lawyers familiar with the matter – and a review of the company’s public filings – the grant began with an effort by the board to reward Jobs for helping resurrect Apple.

The next month, the board gave him 10 million options.

The grant was a record at the time in terms of the number of shares; today, it’s equivalent to 40 million shares after stock splits.

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But he accepted just $1 in annual salary when he took the CEO job.“That would seem to distinguish the Apple situation.” So what actually happened with the 2001 grant?According to lawyers familiar with the matter – and a review of the company’s public filings – the grant began with an effort by the board to reward Jobs for helping resurrect Apple.The next month, the board gave him 10 million options.The grant was a record at the time in terms of the number of shares; today, it’s equivalent to 40 million shares after stock splits.

in annual salary when he took the CEO job.

“That would seem to distinguish the Apple situation.” So what actually happened with the 2001 grant?

According to lawyers familiar with the matter – and a review of the company’s public filings – the grant began with an effort by the board to reward Jobs for helping resurrect Apple.

The next month, the board gave him 10 million options.

The grant was a record at the time in terms of the number of shares; today, it’s equivalent to 40 million shares after stock splits.

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