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Pixar Backdated Stock Options Deeper than First Reported

by on April 11, 2007

Variety is reporting that backdated stock options were more pervasive at Pixar than was initially reported. While initial statements by Pixar and Disney representatives focused on options offered to Pixar executive officers, the latest filing with the SEC by Disney indicates that many mid- and lower-level Pixar employees received backdated options as well, and that the company would need to pay as much as $34 million to compensate employees and cover tax liabilities. The amount is relatively small, considering the current number of outstanding shares, and Wall Street investors did not seem to react to the news.

(via Heidi MacDonald’s The Beat)

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