Apple Admits Options Irregularities

Law360, New York (June 29, 2006, 12:00 AM EDT) -- Computer maker Apple Computer Inc. Thursday joined the legion of companies that say they have discovered irregularities related to the issuance of stock options.

An internal investigation dug up irregularities related to grants made between 1997 and 2001, the company said in a statement.

One of the grants in question was to chief executive Steve Jobs, but it was subsequently cancelled and resulted in no financial gain to the CEO, Apple said.

A special committee of Apple's outside directors has hired independent counsel to perform an...
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