Nearly 1, corporate board members appear to have profited from the manipulation stock stock option grant dates over a year period, according to a study being released today. The analysis raises the possibility that hundreds of board members were aware that options were backdated to boost their value to themselves and company executives. That could be seen as a conflict with their role as advocates for all company shareholders. Stock options are rights to buy company shares at a set price in the future. The option price generally is set at the market price on the grant date. The lower the price on that date, the more likely the recipient would be to profit. The study reviewed 29, stock option grants from to to so-called outside directors, or board members who are not executives of the company. That's because board members are supposed to be looking out for average investors, not using their positions for self-profit, these critics say. It's the cardinal sin. The cast did not cast any companies, cast did it offer any hard evidence that directors played stock direct role in the backdating of options. It did conclude that backdating occurred across a wide range of industries. The one exception was the utilities sector, which issues few options to directors. Stock backdating scandal emerged this year after academic research by Erik Lie of options University of Iowa, leading to resignations and investigations at scores of companies. Most of the focus has been on corporate executives, who make far more in option grants than board directors. But the study's authors and others say the options of directors deserves scrutiny. Questionable grants were sometimes given to executives and directors on the same date, according to the study, coauthored by Yaniv Grinstein of Cornell stock Urs Peyer of the University of Chicago. At other times, directors were given options on dates that executives did not receive them, the study found. Bebchuck said suspicious grants were far more likely to happen at companies that had management structures that tended to give chief executives more power. These include provisions for options terms of board members, weakening their clout, and so-called poison pill measures and other defenses against hostile takeovers. Lie of the University of Iowa said the new study underscored the important role directors should play in guarding against management abuses. You have to have trust in those people and they have to act in a trustworthy manner. Doubt cast on stock options of directors. A study suggests that hundreds of board members may have gained from backdating. December 18, Kathy M. Kristof Cast Staff Writer. Seizure Led to FloJo's Death. His scores make his case. Brutal Murder by Options Girls Adds to Britons' Shock. Comaneci Confirms Suicide Attempt, Magazine Says. Copyright Los Angeles Times.
How to Trade Options: A Beginners Introduction to Trading Stock Options by ticacoqaxise.web.fc2.com
How to Trade Options: A Beginners Introduction to Trading Stock Options by ticacoqaxise.web.fc2.com
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