Apple Offers to Amend Past Options

From Yahoo! Finance

In the wake of its backdated stock options troubles, Apple Inc. is offering affected employees the chance to amend their past options and receive cash payments to avoid related tax penalties, according a regulatory filing. Apple said it sent an e-mail to affected employees, offering them the chance modify the exercise price in accordance with the company's designated schedule.

In the filing with the Securities and Exchange Commission, Apple said some of the misdated stock options exercised after 2005 are subject to additional taxes. The Cupertino-based maker of iPod players and Macintosh computers said the value of the affected stock options under the offer was $67,142, as of Tuesday.

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