Apple today announced that an internal investigation has discovered irregularities related to the issuance of certain stock option grants made between 1997 and 2001. One of the grants in question was to CEO Steve Jobs, but it was subsequently cancelled and resulted in no financial gain to the CEO. A special committee of Apple’s outside directors has hired independent counsel to perform an investigation and the company has informed the SEC. Apple executives will refrain from commenting further on this matter until the independent investigation is concluded.
“Apple is a quality company, and we are proactively and transparently disclosing what we have discovered to the SEC,” said Apple CEO Steve Jobs in the press release. “We are focused on resolving these issues as quickly as possible.”
Press release here.
MacDailyNews Take: Uh, Wall Street really doesn’t like the term “irregularities” very much at all. “Proactively and transparently disclosing” will hopefully help matters for Apple.
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