Dead Men Get No Options... Unless They Work For Cablevision

from the how-it-goes dept

We haven't really talked that much about the stock options back dating scandal that seems to have impacted, well, just about every public technology company these days. At this point, it's not a surprise. Like many borderline questionable activities, it was one of those things that every company did, and plenty of lawyers said it was probably okay (or if not okay, no one would really care). Of course, now, suddenly the SEC does care, and so we're hearing all about it. Most of the stories are exactly the same, and not really worth discussing. Today, however, Cablevision took it up a notch as it was revealed that they didn't just backdate options, they backdated a bunch so a dead executive could get the options while he was alive. Well, to be more specific, that his estate could get them. The article notes that the exec in question was a close friend of the Dolans (the father and son who ran Cablevision until a little spat caused some problems). It's not entirely clear when the backdating happened, but kudos for Cablevision for adding a bit more pizazz to the options backdating story.
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  1. identicon
    pgl, 13 Oct 2006 @ 1:11pm

    Unbelievable! But I have a question - will this income be suject to the Estate Tax or did they find someway to avoid that as well?!

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