Midway Reports 2008 Q3 Results Nov 11, 2008
On a non-GAAP basis, excluding the impact of stock option expense and other non-cash items, the 2008 third quarter loss was $66 ... 13 of stock option expense, non-cash convertible debt interest expense, and deferred income tax expense related to goodwill ... 41 of stock option expense, non-cash convertible debt interest expense, and deferred income tax expense related to goodwill. (Yahoo! Wire -- Entertainment News)
Ensign Energy Services Reports 2008 Third Quarter Results Nov 10, 2008
Stock-based compensation expense arises from the fair value accounting for the Company's stock option plan ... 8 million for additional vesting of stock options and $8 ... 5 million on the exercise of employee stock options and the payment of dividends in the amount of $12. (Canada Newswire)
Fairborne Energy Ltd. Reports Record Quarterly Production and Cash Flow Nov 10, 2008
The recovery during the third quarter of 2008 was primarily due to the change in the intrinsic value of the retention award program instituted by the Company following the Reorganization in December 2007, and was partially offset by the compensation expense pursuant to the stock option plan described below and the compensation expense associated with the third quarter amortization of remaining Restricted Units and Performance Units ... 85 concurrent with the issue of options under the Company's... (CCNMatthews Press Releases)
ETHEX Corporation Initiated Nationwide Voluntary Recalls of Specific Lots of Five Generic Products Due to the Potential for Oversized Tablets Nov 8, 2008
Such factors include (but are not limited to) the following: (1) changes in the current and future business environment, including interest rates and capital and consumer spending; (2) the difficulty of predicting FDA approvals, including timing, and that any period of exclusivity may not be realized; (3) acceptance and demand for new pharmaceutical products; (4) the impact of competitive products and pricing, including as a result of so-called authorized-generic drugs; (5) new product... (PR Newswire)
Canadian Quantum Energy Corporation Announces Election of Two New Members of Board of Directors, Appointment of New CFO and Grant of Options Nov 8, 2008
"In addition, the Corporation announces that Michael Koenig was appointed by the board of directors as Chief Financial Officer of Canadian Quantum on November 6, 2008.The Corporation also announced that, subject to applicable regulatory approval, it has adopted a new rolling stock option plan (the "2008 Plan") under which the number of shares issuable upon exercise of all options thereunder shall not exceed 10% of the issued and outstanding common shares of the Corporation from time to time. The... (CCNMatthews Press Releases)
Toba Industries Ltd. Announces Completion of the $1,283,002 Million Financing and Reverse Takeover of Beijing Marvel Nov 8, 2008
Stock Options Issued. In accordance to the Company's stock option plan, the company has issued 12,660,964 options, issued to certain officers, directors and employees of the Company. (CCNMatthews Press Releases)
Sitebrand Announces Option Grant Nov 7, 2008
The stock options were granted pursuant to the terms of Sitebrand's stock option plan and have an exercise price of $0 ... Stock option grants are subject to necessary regulatory approvals. (CCNMatthews Press Releases)
Cinch Energy Corp. Releases Third Quarter 2008 Results Nov 7, 2008
SHARE CAPITAL Authorized - Unlimited number of common voting shares without par value ---------------------------------------------------------------------------- Issued Number $ ---------------------------------------------------------------------------- Common shares Balance, as at December 31, 2007 55,625,132 99,175,434 Tax effect of flow-through shares (i) (2,526,000) Exercise of stock options (ii) 6,666 10,665 ----------------------------------------------------------------------------... (CCNMatthews Press Releases)
Selectica trims Q2 loss to $3M Nov 7, 2008
The company recorded restructuring charges, patent litigation settlement expense and stock option investigation expense of $300,000. Reader Comments. (San Jose Business Journal, CA)
Red Lion Reports Third Quarter 2008 Results Nov 6, 2008
01 par value; 18,274,498 and 18,312,756 shares issued and outstanding 183 183 Additional paid-in capital, common stock 141,896 140,553 Retained earnings 43,986 41,759 Total stockholders' equity 186,065 182,495 Total liabilities and stockholders' equity $372,318 $344,509 Red Lion Hotels Corporation Consolidated Statement of Cash Flows (unaudited) ($ in thousands) Nine months ended September 30, 2008 2007 Operating activities: Net income $2,227 $7,298 Adjustments to reconcile net income to net... (PR Newswire)
Silverbirch Has Appointed Aberdeen Gould Capital Markets as its Exclusive Advisor Nov 6, 2008
10 for a three year period to vest in accordance with the terms and conditions of the Company's Stock Option Plan ... All of the above grants vest in accordance with the terms and conditions of the Employee Incentive Stock Option Plan approved by the shareholders on May 27, 2008, and expire on November 5, 2013. (Canada Newswire)
Why Obama, Congress must curb CEO pay Nov 6, 2008
And at that point, because of the prevalence of stock option and restricted stock grants, shareholders included many if not most senior managers at a large number of publicly traded companies. And this narrow single-mindedness has taken corporate America down a very bad path that has resulted in executive compensation that is truly excessive. (MSNBC -- Politics)
WHAT CISCO SAID: Read the earnings release Nov 6, 2008
For its internal budgeting process, Cisco's management uses financial statements that do not include employee share-based compensation expense, impact to cost of sales from purchase accounting adjustments to inventory, payroll tax on stock option exercises, compensation expense related to acquisitions and investments, in-process research and development, amortization of acquisition-related intangible assets, significant gains and losses on publicly traded equity securities, the income tax... (USA Today -- Money)
Sonic Solutions Reports Financial Results for Second Fiscal Quarter Ended September 30, 2008 Nov 6, 2008
Stock Option Review Expense Adjustment. We have excluded the effect of our stock option review expenses from our non-GAAP operating expenses and net income, as this provided our management with an important tool for financial and operations decision making and for evaluating our own recurring core business operating results over different periods of time ... The expenses associated with our stock option review, which include all professional expenses incurred with the review, were significant. (Yahoo! Wire -- Entertainment News)
Coherent swings to $4.1M Q4 profit Nov 6, 2008
Coherent also took an after-tax charge of $200,000, or a penny a share, related to litigation resulting from its internal stock option investigation and tock-related compensation expense of $1. 3, or 5 cents a share. (San Jose Business Journal, CA)
Providence Service Corporation Releases Third Quarter Results Nov 5, 2008
001 par value; 12,929,004 and 12,756,392 issued and outstanding (including treasury shares) 13 13 Additional paid-in capital 164,119 159,177 Common stock subscription receivable - (715) Retained (deficit) earnings (101,301) 32,351 Accumulated other comprehensive income, net of tax 2 1,093 ------- ------- 62,833 191,919 Less 615,743 and 612,026 treasury shares, at cost 11,344 11,259 ------- ------- Total stockholders' equity 51,489 180,660 ------- ------- Total liabilities and stockholders'... (PR Newswire)
Tredegar Reports Third-Quarter Results Nov 5, 2008
05 Shares used to compute earnings (loss) per share: Basic 33,672 38,985 34,042 39,219 Diluted 33,903 39,119 34,262 39,396 Tredegar Corporation Net Sales and Operating Profit by Segment (In Thousands) (Unaudited) Third Quarter Ended Nine Months Ended September 30 September 30 2008 2007 2008 2007 Net Sales Film Products $131,187 $134,064 $399,030 $400,385 Aluminum Extrusions 92,072 95,097 275,819 298,280 Total net sales 223,259 229,161 674,849 698,665 Add back freight 5,450 5,191 16,348 15,456... (PR Newswire)
Stetson Announces Options Grants Nov 5, 2008
CALGARY, ALBERTA--(Marketwire - Nov. 5, 2008) - STETSON OIL & GAS LTD. ("Stetson" or the "Company") (TSX VENTURE: - ) -announces that it has granted a total of 6,030,000 stock options to management, directors and consultants under the Company's Stock Option Plan. The options are exercisable at $0. (CCNMatthews Press Releases)
McKesson Vet Hired as Broadcom GC Nov 4, 2008
Broadcom Corp.'s last general counsel, David Dull, was a casualty of the company's mountainous stock option backdating mess ... As a result of backdating stock options, Broadcom made a $2. (Law.com)
Gabriel Resources Ltd: 2008 Third Quarter Report Nov 4, 2008
Stock Based Compensation 3 months ended 9 months ended September 30, September 30, in thousands of Canadian dollars 2008 2007 2008 2007 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- DSUs - expensed (recovered) $ (322) $ (480) $ 124 $ (491) Stock option compensation - expensed 550 526 1,540 1,366 ---------------------------------------------------------------------------- Stock based... (CCNMatthews Press Releases)
Cheney's day is done Nov 4, 2008
Halliburton stands to benefit every time an oil pipeline is blown up in Iraq or a meal is handed out to the troops, and Cheney still has stock options in the company ... Cheney's official position has always been: ``Since I left Halliburton to become George Bush's vice president, I've severed all my ties with the company, gotten rid of all my financial interest". Here are the available Halliburton stock option numbers sourced from the Vice President's Federal Financial Disclosure forms: 100,000... (Sydney Morning Herald -- Business)
Solium Capital Inc. Releases 2008 Third Quarter Results Nov 3, 2008
Grant based participants include participants in stock option plans, share appreciation rights plans, and share unit plans ... Diluted shares as presented equals issued and outstanding common shares plus outstanding stock options ... Solium's technology platform, Shareworks, is a leading online solution that integrates the management of multiple equity plan types including stock options, share units, and employee share purchase plans on one comprehensive platform. (CCNMatthews Press Releases)
Masters Energy Inc. Reports Third Quarter 2008 Interim Results Nov 3, 2008
During the third quarter of 2008, 33,750 stock options and performance warrants were exercised for common shares for cash proceeds of $0 ... In addition, option holders elected a cashless settlement alternative whereby 175,000 stock options and 65,000 performance warrants were exercised in exchange for 65,792 common shares ... (b) Issued ($ thousands, except number of shares) Number Amount ---------------------------------------------------------------------------- Balance, December 31, 2007... (CCNMatthews Press Releases)
ALDA Grants Incentive Stock Options Nov 1, 2008
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 31, 2008) - ALDA Pharmaceuticals Corp. (TSX VENTURE: - ; "ALDA") announces that it has granted incentive stock options to certain directors, senior officers, employees and consultants to purchase an aggregate of 550,000 common shares at an exercise price of $0 ... The grant was pursuant to the Company's Rolling Stock Option Plan, which was re-affirmed by the shareholders of the Company on December 14, 2007 and subsequently accepted by the Exchange.... (CCNMatthews Press Releases)
EDCI Holdings, Inc. Announces Sale of Entertainment Distribution Company, LLC U.S. Distribution Operations in Fishers, Indiana and Select U.S. Manufacturing Equipment to Sony DADC US Inc. Nov 1, 2008
5 million of non-recurring costs associated with stock option investigation and litigation legal expenses and consulting costs. The Company reported a net loss from continuing operations of $(11. (Yahoo! Wire -- Entertainment News)
Cobb EMC settles client suit Oct 31, 2008
Common shareholders, Cobb Energy employees who are part of an in-house stock option plan, will get what that plan spells out: Cobb EMC s common stock was last valued at $41. In exchange, the co-op will get back the employees and meters, all of which it turned over to Cobb Energy a decade ago. (Atlanta Journal-Constitution)
NuVista Energy Ltd.: Third Quarter Interim Report 2008 Oct 31, 2008
The stock-based compensation charge relates to the amortization of the value of stock option awards and the accrual for awards under the Restricted Share Unit ("RSU") incentive plan ... 7 million stock options outstanding, with an average exercise price of $14 ... (c) Common shares issued September 30, 2008 December 31, 2007 ---------------------------------------------------------------------------- Number Amount Number Amount... (CCNMatthews Press Releases)
Fortis Earns $49 Million in the Third Quarter Oct 31, 2008
The remainder of the increase related to the issuance of Common Shares under the Corporation's share purchase, dividend reinvestment and stock option plans and a decrease in accumulated other comprehensive loss ... Net proceeds associated with the issuance of Common Shares under the Corporation's share purchase and stock options plans during the third quarter were $5 million compared to $8 million for the same quarter last year and were $16 million year to date compared to $17 million for the... (CCNMatthews Press Releases)
United Therapeutics profits fall 15% Oct 30, 2008
2 million increase relating to the fair value of a potential year-end stock option grant to CEO Martine Rothblatt. United Therapeutics tax bill more than tripled in the quarter to $7. (Washington Business Journal, DC)
Stock options take heat of meltdown Oct 29, 2008
Stock options take the heat of meltdown- Market News-Stocks-Markets-The Economic Times ... Stock options take the heat of meltdown29 Oct, 2008, 0150 hrs IST,Prashant Mahesh, ET Bureau ... They only subscribe to Esops (Employees Stock Option Plan) since they believe in the growth of the company and are excited to own a part of it as a shareholder. (India Times)
CE Franklin Ltd. announces 2008 Third Quarter Results Oct 28, 2008
6 million in the issuance of capital stock from the exercise of employee stock options ... 1 million shares over the prior year's third quarter due principally to the purchase of common shares to resource restricted share unit obligations, offset by the exercise of stock options and restricted share units ... CE Franklin Ltd. Interim Consolidated Statements of Changes in Shareholders' Equity - Unaudited ------------------------------------------------------------------------- Capital Stock... (PR Newswire)
Mandalay Media Completes $22.8 Million Acquisition of AMV Holding Limited and Secures $4.5 Million Equity Financing Oct 28, 2008
e., the second half of the Companys fiscal year), combined revenues are expected to be in excess of $30 million, with EBITDA (excluding stock option expense) of approximately $4 million. The forward looking pro forma estimates are based on April 1, 2008 to September 30, 2008 historical operating results for both AMV and Twistbox and do not include anticipated operating efficiencies or synergies. (Yahoo! Wire -- Entertainment News)
Q-Tip and The Cool Kids to Headline 4th Annual 2K Sports Bounce Tour Oct 28, 2008
These risks and uncertainties include the matters relating to the Special Committee's investigation of the Company's stock option grants and the restatement of our consolidated financial statements. The investigation and conclusions of the Special Committee may result in claims and proceedings relating to such matters, including previously disclosed stockholder and derivative litigation and actions by the Securities and Exchange Commission and/or other governmental agencies and negative tax or... (Yahoo! Wire -- Entertainment News)
BCGold Corp. Grants Stock Options Oct 25, 2008
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2008) - BCGold Corp. ("BCGold" or the "Company") (TSX VENTURE: - ) announces that pursuant to the Company's Stock Option Plan, 875,000 incentive stock options, exercisable at $0. 20 per share for a period of five years, have been granted to certain directors, officers, employees and consultants of the Company. (CCNMatthews Press Releases)
The Futura Loyalty Group Retains Investor Cubed Inc. Oct 25, 2008
The Company also granted stock options to purchase 500,000 common shares at an exercise price of $0. 10 pursuant to the Company's stock option plan (the "Plan"). (CCNMatthews Press Releases)
PT Announces Stock Buyback Oct 25, 2008
Performance Technologies plans to use proceeds from the repurchase to fund the company's stock option plan, potential acquisition initiatives, and general corporate purposes. Performance Technologies also announced third quarter revenue of $9. (R News)
II-VI Incorporated Announces Share Repurchase Program Oct 24, 2008
The Company expects the repurchase of shares to at least partially offset the dilutive effect of the issuance of shares from the Company's stock option plan. The Company will finance the repurchases from cash-on-hand and amounts available under the Company's existing credit facility. (PR Newswire)
Naturally Advanced Technologies Reports Stock Options Grant to CEO - Sets More Milestones for Commercialization Oct 24, 2008
PORTLAND, OR, Oct. 23 /PRNewswire-FirstCall/ - Naturally Advanced Technologies Inc. (NAT, OTCBB: NADVF, TSXV: NAT), a pioneer in commercializing the use of bast fibers including industrial hemp for use in casual apparel, performance yarns, industrial filters and absorbent pulp and paper products, granted a stock option to purchase up to 500,000 shares in the capital of NAT at an exercise price of US$1 ... Miljenko Horvat, Chairman of the board, stated, "We have an extremely talented management... (PR Newswire)
Performance Technologies Begins a New Stock Repurchase Program Oct 24, 2008
Under this new program, Performance Technologies shares may be repurchased through open market or private transactions, including block purchases, over the next twelve months and will be used for the Company's stock option plan, potential acquisition initiatives and general corporate purposes. Performance Technologies has approximately 11,613,000 common shares outstanding. (PR Newswire)
DST Systems, Inc. Announces Third Quarter 2008 Financial Results Oct 24, 2008
The net effect of share repurchases and shares issued from stock option exercises during third quarter 2008 resulted in a net decrease in shares outstanding of approximately 3 ... 1 million shares from outstanding stock options ... 1 million shares from third quarter 2007 due to decreases in the Company's average stock price and lower stock options outstanding. (PR Newswire)
Omnicell Announces Third Quarter 2008 Results Oct 24, 2008
In calculating the above non-GAAP results, management specifically adjusted for the following excluded item: Stock-based compensation expense impact of SFAS No. 123R. We recognize equity plan-related compensation expenses, which represent the fair value of all share-based payments to employees, including grants of employee stock options, as required under SFAS No. 123 (revised 2004), "Share-Based Payment" (SFAS No. 123R). Management adjusts for stock-based compensation expenses related to SFAS... (PR Newswire)
Maxcom Reports Results for the Third Quarter and Nine Months of 2008 and the Appointment of New Chief Executive Officer Oct 24, 2008
These increases were partially offset by lower insurance costs and stock option compensation ... 29,735 $2,755 Depreciation and amortization 93,024 140,547 13,023 Long term obligations 1,129 3,556 330 Deferred income tax 31,282 1,762 163 Stock Options 10,268 7,547 699 Subtotal 110,649 183,147 16,970 Net change in operation: Resources provided by operation activities (114,587) (11,659) (1,080) Financing activities: Senior notes 331,316 151,148 14,006 Notes payables (3,703) (1,433) (133)... (PR Newswire)
Pay Linx Grants Stock Options to Directors Oct 24, 2008
In July 2008, the Pay Linx board implemented a compensation plan (the "Plan") for the directors of the Company that is based entirely in the form of options, pursuant to the Company's Stock Option Plan. Since the Company's formation in 2006, no cash has been paid for Directors' fees. (Canada Newswire)
Canada Energy Partners Announces Results of AGM Matters Oct 24, 2008
- the Company's shareholders approved an amendment to the Company's Stock Option Plan (the "Plan") to increase the number of shares that may be granted under the Plan to 10% of the number of shares outstanding from time to time as previously filed with the TSX Venture Exchange. On behalf of the Board of Directors of Canada Energy Partners Inc.. (CCNMatthews Press Releases)
Corus Entertainment announces fiscal 2008 fourth quarter and year-end results Oct 24, 2008
23 ------------------------------------------------------------------------- ------------------------------------------------------------------------- CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Three months ended Twelve months ended (unaudited) August 31, August 31, (in thousands of Canadian ------------------------------------------ dollars) 2008 2007 2008 2007 ------------------------------------------------------------------------- Net income for the period 17,406 21,219 129,835 107,018... (Yahoo! Wire -- Entertainment News)
Herley Reports 4th Quarter and Year-End Results Oct 22, 2008
10 par value; authorized 20,000,000 shares; issued and outstanding 13,521,902 in 2008, and 13,977,115 in 2007 1,352 1,398 Additional paid-in capital 101,403 107,094 Retained earnings 89,058 99,404 Accumulated other comprehensive income 1,622 1,745 --------- ---------- Total Shareholders' Equity 193,435 209,641 --------- ---------- Total Liabilities and Shareholders' Equity $259,418 $262,593 ========= ========== HERLEY INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In... (PR Newswire)
Tupperware Brands Reports Third-Quarter Results and Announces Accelerated Stock Repurchases Oct 22, 2008
Accelerated Share Repurchases The $150 million share repurchase authorization from May 2007 has been used to date to repurchase shares with proceeds from stock option exercises. In 2007 and through the third quarter of 2008, $64 million of such repurchases have been made. (PR Newswire)
Exar Corporation Announces Preliminary Results of Its Annual Shareholder Meeting Oct 21, 2008
Oct. 20 /PRNewswire-FirstCall/ -- Exar Corporation (Nasdaq: ) today announced that based on a preliminary tally, shareholders at its annual meeting held on October 16, 2008 voted to elect the following nominees to the Board: Messrs Pierre Guilbault, Brian Hilton, Richard L. Leza, Gary Meyers, J. Oscar Rodriguez and Pete Rodriguez, approved the appointment of PricewaterhouseCoopers LLP as Exar's independent registered public accounting firm for the 2009 fiscal year, and approved Exar's proposed... (PR Newswire)
Netflix Announces Q3 2008 Financial Results Oct 21, 2008
Management believes that non-GAAP net income is a useful measure of operating performance because it excludes the non-cash impact of stock option accounting. In addition, management believes that free cash flow is a useful measure of liquidity because it excludes the non-operational cash flows from purchases and sales of short-term investments, cash flows from investment in business and cash flows from financing activities. (Yahoo! Wire -- Entertainment News)
Milner Announces Grant of Stock Option Oct 18, 2008
The grant of this option is in accordance with the existing stock option plan ... The grant of the incentive stock options is subject to regulatory approval. (CCNMatthews Press Releases)
Engineered Support CFO gets 15 mos. Oct 18, 2008
Gary Gerhardt, former chief financial officer of , was sentenced Friday to 15 months in prison and ordered to pay a $4 million fine in connection with the backdating of stock options ... With his plea, Gerhardt admitted that the dates assigned to stock options led to their strike price being at low points of Engineered Support Systems stock price during the relevant quarters as opposed to the dates when the decisions to award options were actually made ... 8 million by backdating stock options... (St. Louis Business Journal, MO)
Solex Resources Corp. Announces Fiscal 2008 Year End Results Oct 17, 2008
The change in net loss is mainly attributable to the decrease in the stock option expense from $2,331,485 to $1,178,683 as a consequence of significantly fewer stock options being granted. An increase in interest income of $104,546 and reductions in administrative expenditures also contributed to the reduction in net loss. (Canada Newswire)
Where Will the Deposed CEOs Go? Oct 17, 2008
Nor will they fall back on cushy stock option packages ... 4 million in cash compensation and stock options since he took over as CEO in 2004. (Multichannel News)
Probe Mines Exploration Update Oct 17, 2008
The options were granted pursuant to a stock option plan approved by shareholders on October 9, 2008. The new option plan reduces the number of options available for granting from 4,500,000 to 3,351,647, representing 10% of the issued and outstanding shares of the Company. (CCNMatthews Press Releases)
CEOs lose millions as option values plummet Oct 17, 2008
The tumble in the stock market is hitting the wallets of CEOs at Minnesota s largest public companies, some of whom have watched the value of their stock options fall by tens of millions of dollars ... The sharp decline in value raises questions about the future of stock options as components of CEO compensation packages ... The value of a stock option, to the CEO, is the difference between that share s current trading price and the option s exercise price, or the price at which the CEO can... (Twin Cities Business Journal, MN)
Broker fired in fall of Enron Oct 16, 2008
After getting his broker's license Wu went to work for PaineWebber in Houston in April of 1999, where he became an advisor in the firm's Emery Financial Group, which provided investment advice and stock option administration services to Enron employees. When the conversation reaches this point, Wu starts putting on athletic shoes and apologizes for having to "cut short" the interview, but he and his family are getting ready to go out. (Houston Business Journal, TX)
Novellus Systems, Inc. Q3 2008 Earnings Call Transcript Oct 16, 2008
And [inaudible], I want to make it clear that, when you say cash, you're taking out the stock option, which is close to $8million, and depreciation and amortization - that is $17 million - so $25 million is the item you're excluding from being EPS breakeven. Is that correct. (Seeking Alpha, NY)
Armageddon - or abumpy landing? Oct 15, 2008
For investors, dividends will now be a substantial part of their return, so they will no longer be prepared to allow management to goose stock prices artificially by a combination of huge stock option grants and buybacks. For the economy, projects will get financed based on a true cost of equity capital, not on an artificially low equity cost. (Asia Times Online)
Duran Ventures Annual and Special Meeting Update Oct 11, 2008
- the approval of the existing 10% stock option plan. - the continuance of Duran under the federal laws of Canada. (CCNMatthews Press Releases)
Options drive rise in CEO pay Oct 7, 2008
Stock market turmoil over the past year hasn't stopped Canada's top chief executive officers from cashing out stock options and share units at record-high levels ... But huge gains from stock options and other long-term incentive plans sent the total payout far higher ... That means in addition to traditional stock options, most executives also receive some form of share units whose value is linked to the company's share price. (Globe and Mail -- Business)
Ex-McAfee exec cleared of option backdating charge Oct 7, 2008
SAN FRANCISCO A jury has acquitted the former top lawyer at computer-security software maker McAfee Inc. of illegally tampering with his stock option grants to boost his pay package. Kent Roberts, who served as McAfee's general counsel until he was fired in 2006, was charged with two counts of fraud and one count of falsifying accounting books. (San Diego Union-Tribune -- Business)
CalPERS requests freeze on UnitedHealth CEO's options Oct 6, 2008
A federal court has frozen millions of dollars worth of unexercised stock options and benefits owned by William McGuire, the departing chief executive officer of whose tenure ended over a scandal involving backdated options. U.S. District Judge James Rosenbaum made the ruling at the request of the , which didn't want McGuire to dispose of those assets before lawsuits over stock option backdating were resolved ... McGuire was blocked from accessing unexercised stock options and his retirement... (Sacramento Business Journal, CA)
UnitedHealth shareholders override CalPERS on board vote Oct 6, 2008
UnitedHealth has received national scrutiny about its compensation practices and the timing of some senior executives stock option grants ... In his speech to shareholders, McGuire said he could not respond to any questions about stock option timings, which are under investigation by the Securities and Exchange Commission ... Larson said he suspected the strong attendance meant others in the room wanted to hear McGuire explain why he and some of his colleagues were granted such a large number of... (Sacramento Business Journal, CA)
CalPERS challenges stock options of 25 companies Oct 6, 2008
The has asked 25 companies to explain allegations that they changed the dates of stock options for top executives ... "Stock option backdating potentially threatens the credibility, governance and performance of companies," Russell Read, CalPERS Chief Investment Officer, said in a statement. (Sacramento Business Journal, CA)
Former UnitedHealth Group CEO agrees to $30M settlement Oct 6, 2008
A former chief executive, William McGuire, has agreed to pay $30 million to shareholders as part of a settlement of a stock option backdating lawsuit with The California Public Employees Retirement System. Also the former chief executive agreed to cancel options to purchase 3. (East Bay Business Times, CA)
