Former Pixar CFO faces possible SEC charges of stock option abuse

“The former chief financial officer of hit movie maker Pixar Animation Studios is facing a possible legal battle with securities regulators for alleged mishandling of stock options, according to documents filed Monday,” Michael Liedtke reports for The Associated Press.

“Ann Mather’s looming trouble with the Securities and Exchange Commission was disclosed by Google Inc., where she is a member of the Internet search leader’s board of directors,” Liedtke reports.

“Mather served as Pixar’s CFO from 1999 to 2004 – a period in which the company reported about $520 million in total profits and released the hit movies ‘Toy Story 2,’ ‘Monsters Inc.,’ ‘Finding Nemo’ and ‘The Incredibles.’ She has been on Google’s board since November 2005 and currently chairs the company’s audit committee,” Liedtke reports.

“Walt Disney acknowledged last year that some of Pixar’s stock options were improperly backdated, but concluded no one currently associated with the company – including former Pixar Chief Executive Steve Jobs – had done anything deliberately wrong. Jobs remains on Disney’s board,” Liedtke reports.

“Jobs also was involved in improper backdating as CEO of Apple Inc., but the iPod and computer maker cleared its leader after concluding he didn’t fully understand the accounting implications,” Liedtke reports. “Apple’s former CFO, Fred Anderson, last year agreed to pay $3.5 million in fines and penalties to settle SEC charges about his alleged mishandling of stock options.”

Full article here.

12 Comments

  1. <b””Jobs also was involved in improper backdating as CEO of Apple Inc., but (was) cleared … after concluding he didn’t fully understand the accounting implications,” Liedtke reports.”<\b>

    The “I didn’t know it was a crime” defense. Only applicable to multi-millionaires I guess, not the common folk.

  2. “”Walt Disney acknowledged last year that some of Pixar’s stock options were improperly backdated,…”

    Walt’s still alive, eh?
    I wonder if he lives in the same retirement condo as Elvis and DB Cooper.

  3. It’s a problem, but it’s very unlikely it will go further. As stated above, this was a common practice at the time. Steve’s openness to investigators also spoke very loudly to them. His intention was not to defraud, that’s clear.

    Move on trolls. Your bridges beckon.

  4. Stevie baby be bullet proof on dis.

    Only complainers are the entitlement generation libs … you know, the crybabies of American Society.

    They are cheering Wright now, gonna pull the lever for ultralib Obama (that would be Hussein Obama, who never owns up to his middle name).

    Obama, Wright and the Entitlement Generation. The bane of the Greatest Generation.

  5. Accountants are the minions of the bankers, CFOs are accountants who have done well shilling for the bankers and been promoted, maybe they hope to become bankers one day.

    It’s all corrupt, accountants give you a test to see if you are corruptible or not. If yes you can join the club, if not they try to bring you down – and most times they succeed.

    It’s no surprise that they had sleepers installed at Apple and Pixar, Steve Jobs always looked like a maverick.

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