Unh stock options backdating Live sex chat melbourne
Choosing a date back when the share price was lower makes the option more profitable if the company's share price rises.The upheaval at United Health Group comes a few days after the company's board members saw the damning conclusions of an investigation by an outside law firm looking into backdating.Additionally, he is a member of the National Executive Board of the Boy Scouts of America, the organization's governing body.
After months of questions surrounding United Health Group's stock options practices, the weekend brought a major shakeup in the company's leadership.
In addition to announcing the retirement of CEO Bill Mc Guire, the company also says a board member and the company's general counsel will retire.
Optum is a new business brand of United Health Group and operating business and Business Process Outsourcing (BPO) services.
United Health Group serves approximately 70 million individuals throughout the United States.
Both Mc Guire and his replacement have agreed to reprice their stock options to eliminate any gain from backdating.
Backdating involves using the benefit of hindsight to select the effective date and price of an option.
The list includes not only Apple, but online jobs company Monster Worldwide ( MNST), education company Apollo Group ( APOL), United Health Group ( UNH), homebuilder KB Home ( KBH) and others. Let's look at Affiliated Computer Services ( ACS), a business process outsourcing and information technology company.
The former CEO, Jeffrey Rich, claimed "blind luck" in getting options granted at the very bottom of four-month periods, which occurred several times.
The Journal estimated that the odds were 1 in 200 million that CEO Mc Guire’s twelve option grants would occur on those days when UNH’s stock price was very low.– In May, UNH said that it may have to restate its financial results for the past three years and lower earnings by as much as 6 million because of the way it awarded and accounted for stock options given to its executives.– UNH’s stock price declined 28%, from .73 on Jan 1, 2006 to .37 on May 11th when the company confirmed the SEC probe.Tags: Adult Dating, affair dating, sex dating