Pixar Workers Received Backdated Options: Disney

Law360, New York (April 10, 2007, 12:00 AM EDT) -- The Walt Disney Co. may have to shell out as much as $33.5 million to resolve improper options granted to employees of Pixar Animation Studios before Disney acquired the company.

Disney said in its Monday filing with the U.S. Securities and Exchange Commission that the unexercised stock options were offered to rank-and-file Pixar employees, not senior executives, making the backdating problems at Pixar more widespread than previously reported.

The media had concentrated on a group of top executives who received options valued at a few million...
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