News
[PSUs]| Wednesday 9th August 2006 |
In December 2000 creative director John Lasseter was granted an option to buy one million shares at $26.50 per share, just 13 cents above the year's low, according to a filing with the Securities and Exchange Commission (SEC). Other executives, including Ed Catmull, are also implicated.
However Steve Jobs, Apple CEO and Pixar's CEO before its sale to Disney, did not receive any options.
The SEC is now carrying out more than 80 investigations to determine whether companies illegally manipulated the timing of stock option grants in order to maximise returns, with Apple the most high-profile of those being examined. The company has openly admitted to irregularities and warned that its financial results since 2002 may have to be restated.
Disney, which bought Pixar last year, is not thought to be among those under investigation. The company declined to comment.
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