Semiconductor maker LSI Logic Corp. generally awarded stock options to executives at regular intervals, leaving no room for improper backdating. But in 2002, the company reported a deviation to the SEC, an option granted to the CEO the previous April. That was the time of year that LSI board members -- including Larry Sonsini -- typically received their options. SEC filings from two other companies where Sonsini was a board member also reveal stock options granted to executives at exceptionally low levels.
August 30, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Like many other publicly traded companies, semiconductor maker LSI Logic Corp. awarded stock options to executives at regular planned intervals, a practice that leaves no room for improperly backdating options.
From 1997 to 2001, the company gave out regular executive grants in August and November, and occasionally in February.
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