Fred Anderson, the former CFO of Apple, struck a deal today with the U.S. Securities and Exchange Commission regarding the company’s backdating of stock options.
Anderson will pay a fine of $150,000, and pay back $3.5 million in fraudulent options gained. The biggest win for Anderson, the Managing Director and co-founder of venture capital firm Elevation Partners, is that he will be allowed to continue serving as a corporate officer moving forward.
The news for former Apple general counsel Nancy Heinen isn’t so rosy. Although the SEC has yet to offer any details on their actions regarding Heinen, most analysts on Wall Street seem to think she will be the target of an SEC lawsuit. More details to come...
