Anderson had already retired in 2004 so, except for giving up some money and his board seat, he got off relatively easy, compared to Heinen.As for Jobs, a report from Apple's internal investigation indicated that, while he was indeed aware of the options backdating, "he did not financially benefit from these grants or appreciate the accounting implications." In addition to vindicating Jobs, that same report fingered Heinen and Anderson.Or that an investigation by Disney into options backdating at Pixar also cleared Jobs of any wrongdoing, even though he helped negotiate the deal in which Pixar's star film director, John Lasseter, received backdated options.The bottom line: Claims that Jobs was unaware of the accounting implications of backdating are hardly believable, but there was no evidence to the contrary.(RIM's stock is listed on both the NASDAQ Stock Market and the Toronto Stock Exchange.) Specifically, the SEC's complaint alleges that Kavelman, Loberto, Balsillie and Lazaridis backdated option agreements and offer letters, which concealed the fact that the options were granted in-the-money.The complaint also alleges that Kavelman and Loberto took steps to hide the backdating from regulators, RIM's independent auditor and outside lawyer.For instance, Kavelman and Loberto usually picked low strike prices within reporting periods and in some instances avoided the lowest price so regulators would not detect the backdating.On one occasion, Kavelman asked a manager not to document improper pricing in e-mails.
That seemed like a contradiction to me, but whatever.
Never mind that Anderson, in a press release, claimed to have informed Jobs of the accounting implications of backdating options in 2001.
Or that Jobs gave up his outstanding options, which were "underwater," in exchange for 5 million restricted shares in 2003.
Anderson got nailed because, according to the complaint, he should have noticed what Heinen was doing and either stopped it or reported the expense properly.
He also exercised and sold 750,000 back-dated shares.
After all, stock option backdating is all the rage these days.