Two New Jersey companies announced Wednesday that some of their executives have run afoul of stock option dating regulations. Emcore, a manufacturer of semiconductors and related devices, said that its CEO paid back $147,775 received from improperly backdated options, while its chief legal officer repaid $97,000. Tyco International said in an SEC filing that backdated options granted to a number of officers and directors would force it to restate financial statements by $252 million for 1999 through 2002.
November 17, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Two New Jersey companies announced Wednesday that some of their executives have run afoul of stock option dating regulations.
Emcore Corp. said that chief executive officer Reuben Richards Jr. paid back $147,775 received from improperly backdated options, while chief legal officer Howard Brodie repaid $97,000.
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