CROOK ALERT! 3 Outside Directors Get Back-dated Options Too!
Outside Directors Also Got Backdated Options
12-18-06 A Harvard Law School Program on Corporate Governance research report indicates that outside directors, far from being blissfully ignorant of crooked options practices, received backdated option grants along with CEOs, a clear indication that they aren't doing their jobs and the extent of corruption at the top of many U.S. corporations.
Here's a link to a NY Times article by Eric Dash on the Harvard Law School Report:
Fortune Magazine: "A Study in CEO Greed"
- FORTUNE: A study in CEO greed - May. 30, 2006
One of the questions crying loudest from the developing scandal of backdating stock options is, Why now?
EXXON CEO Lee Raymond
Backdating Options According to Wikipedia
- Options backdating - Wikipedia, the free encyclopedia
Backdating stock options is the dubious practice of dating the options prior to the date they are actually awarded in order to enhance their value to the recipient.