Steve jobs back dating stock options


08-Jul-2020 15:00

So I was very concerned that Apple could really suffer some big losses on its executive team with the business environment we were in and the competitors coming after our people.

And I was also concerned that [REDACTED] and [REDACTED] two very strong technical leaders, were also very vulnerable.

steve jobs back dating stock options-62

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However, Apple says there are "serious concerns" surrounding actions taken by two former officers in connection to the problems.

This incentivizes employees to help make the stock price to up high so that when they want to cash the stock out they can make a good profit on it.

The stock was owned by the company and is payed for by the employee at some time in the future but the IRS decided that the company (all Silicon Valley companies) were liable for the difference in the stock price between the date that the employee was hired and the data that the stock price was set, for the purposes of purchasing it (at a low price) by the employee.

And I was very concerned because Michael Dell, one of our chief competitors, had flown Fred Anderson, our CFO, down to Austin, I guess, him and his wife, I think, to try to recruit him. Well, I talked with the board almost every meeting about, you know, key personnel, because I think that’s the key asset Apple has, is its talent .

I kept the interim CEO title for quite some time, a number of years. Apple was in a precarious situation in that we’d, you know, had the internet bubble busting, and I thought that Apple’s executive team and the stability of Apple’s executive team was one of its core strengths. Some names were redacted in the original, but I’ve reinserted them in brackets where it is obvious who Jobs is talking about I’ve also bolded some parts for emphasis.