Scansource backdating

Posted by / 28-Nov-2017 20:51

Scansource backdating

Mc Lain and other executives did not respond to a letter detailing the Observer's findings, nor did they return phone calls.The Securities and Exchange Commission, which regulates options grants, said it does not comment on specific companies. companies are under investigation for civil and criminal violations associated with backdating.Options granted to executives confer the right to buy shares in the future, typically at the price on the day of the grant.Scan Source stock closed that day at .50, matching its low for the year.More than half the options went to senior executives.Baur, first as president, then as chief executive, received 20 percent.When Mc Lain was hired in 1995, the company was three years old.The board of directors granted him 10,000 options and dated the grant as of June 5, according to the company's filings with the SEC.

A recent study estimated more than 2,000 companies falsified grant dates in the late 1990s and early years of this century, enriching executives at the expense of shareholders. But concealing the date of a grant almost always means the company also concealed the extra expense, which means it probably reported inflated profits. Most of the scrutiny has focused on tech companies, which granted large numbers of options.

Some experts estimate the cost to shareholders at several billion dollars. Scan Source shared some of the common characteristics.

It was a new company, without a lot of money to pay executives; it had a relatively volatile stock price, so the date of grants mattered; and it was a small company, not closely watched by analysts or institutional investors.

* Corporate America's new game Options became popular because Congress and Corporate America played a figurative game of whack-a-mole.

In 1993, Congress changed the corporate tax code in a way that discouraged companies from paying salaries above

A recent study estimated more than 2,000 companies falsified grant dates in the late 1990s and early years of this century, enriching executives at the expense of shareholders. But concealing the date of a grant almost always means the company also concealed the extra expense, which means it probably reported inflated profits. Most of the scrutiny has focused on tech companies, which granted large numbers of options.

Some experts estimate the cost to shareholders at several billion dollars. Scan Source shared some of the common characteristics.

It was a new company, without a lot of money to pay executives; it had a relatively volatile stock price, so the date of grants mattered; and it was a small company, not closely watched by analysts or institutional investors.

* Corporate America's new game Options became popular because Congress and Corporate America played a figurative game of whack-a-mole.

In 1993, Congress changed the corporate tax code in a way that discouraged companies from paying salaries above $1 million.

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A recent study estimated more than 2,000 companies falsified grant dates in the late 1990s and early years of this century, enriching executives at the expense of shareholders. But concealing the date of a grant almost always means the company also concealed the extra expense, which means it probably reported inflated profits. Most of the scrutiny has focused on tech companies, which granted large numbers of options.Some experts estimate the cost to shareholders at several billion dollars. Scan Source shared some of the common characteristics.It was a new company, without a lot of money to pay executives; it had a relatively volatile stock price, so the date of grants mattered; and it was a small company, not closely watched by analysts or institutional investors.* Corporate America's new game Options became popular because Congress and Corporate America played a figurative game of whack-a-mole.In 1993, Congress changed the corporate tax code in a way that discouraged companies from paying salaries above $1 million.

million.

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If Mc Lain had received options when the company said he was hired, the potential profit would have been reduced by about $10,000.

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