Apple stock backdating scandal
He was later given a grant of restricted stock by the company instead.Forbes' latest cover story details Apple's options-backdating scandal, and a copy of Steve Jobs' sworn testimony provides a rare glimpse into a surprisingly vulnerable, humble CEO.Records that purported to show a full board meeting had taken place to approve Mr.Jobs’ remuneration, as required by Apple’s procedures, were later falsified.
Gibney certainly takes an unusual approach: Rather than a straightforward life story, the movie focuses on a handful of moments in Jobs’s life that many biographies don’t linger on, like Apple’s stock options backdating scandal. https://youtu.be/lzyq1t-Sjc M I sat in on a group Q&A session with Gibney at SXSW in March. But also at the same time, I’m appalled, really, by his cruelty, and his inability to get outside himself, and to see himself and his company in a broader perspective. But not because they were telling incidents about Apple the business.
What do you think his fans will think of the movie?
That allows Gibney to play rare — and fascinating — footage of Jobs parrying with Securities and Exchange Commission lawyers during a 2008 deposition. Here’s an excerpt of that conversation: Your film doesn’t have any on-camera interviews with current Apple employees, or anyone who didn’t end up distanced from Jobs in some significant way. In that SEC deposition, where he’s talking about how, when he wasn’t given a bigger stock option package by the board, he felt hurt — that just struck me like, you’re a very very powerful guy, and the board didn’t do what you wanted to do by themselves, and you’re hurt? That seemed like a person who couldn’t get outside himself. Is that because you thought they were telling, or because you could talk to people who would talk about it, or both? This film really looks very carefully at his values.
Most biographies of Jobs mention the backdating story, and incidents like his fight with Gizmodo, after the site got its hands on his i Phone prototype. That’s something Steve would bring up over and over again: Values.In the context of his values, I think the stories are symbolic.