How Apple Got Tangled Up with Options

Anyone familiar with Macworld knows that Steve Jobs is secretive. It's part of his allure. But that mystique has taken a hit over revelations that the company backdated options. Apple's board gave Jobs and his senior management a vote of confidence following an internal investigation into 6,428 improperly backdated options granted between 1997 and 2002. The board found no misconduct by the CEO. Nor, for that matter, have the Securities and Exchange Commission and the Justice Department, but they aren't done. As part of an ongoing investigation, the feds may question Jobs as they probe Apple's behavior.

Companies grant options...

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