“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.