From the Resignation Agreement between KB Home and Bruce Karatz:
6. Karatz acknowledges and agrees that the exercise price of each annual stock option granted to him since October 2, 1998 (the “Subject Options”) shall be changed to the closing price per share of the Company’s common stock on the new measurement dates selected by KB [...]
New York Times: KB Home Ousts Its Chief and 2 Others. The longtime chief executive of KB Home, one of the nation’s largest home builders, resigned under pressure on Sunday night and agreed to return $13 million in profit from backdated stock options, the company said.
At first, I thought the stock options backdating problem was [...]
The Company has determined that the stock option (“Option ”) granted to you on June 7, 2004 in respect of 30,000 shares of our Series B common stock (“Common Stock ”) at an exercise price of $10.00 per share was granted with an exercise price less than the fair market value of the Common Stock [...]
New York Times: F.B.I. Calls Ex-Comverse Chief a Fugitive, and Casts a Wide Net. The hunt for Jacob Alexander, known as Kobi, was stepped up yesterday after the Federal Bureau of Investigation declared him a fugitive and said agents were seeking his arrest.
Earlier this month, the Department of Justice announced that three former executives [...]
Lately, a lot of companies have been caught up in stock option backdating scandals. Here are all the Stock Option Agreements that I’ve archived so far. More to come later…
