Apple Says Options Probe Exonerates Steve Jobs

John Markoff, reporting for The New York Times:

The special committee Apple commissioned to investigate its options awards issued a statement today that was signed by two Apple board members: former vice president Al Gore, who chaired the special committee, and Jerome York, who heads the board’s Audit and Finance Committee. “The board of directors is confident that the company has corrected the problems that led to the restatement, and it has complete confidence in Steve Jobs and the senior management team,” the statement said.

Apple recorded $84 million dollars in expenses related to these option grants, which in the grand scheme of things isn’t that much money. That, plus the news regarding Jobs’s apparent lack of involvement, sent Apple stock up 5 points.

★ Friday, 29 December 2006