More Options Hot Water For Steve Jobs

By Douglas A. McIntyre Published Feb 9, 4:14AM EST

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tSteve Jobs appears to have been treated with kid gloves by his board at Apple (AAPL).They found that he had made no gain from backdated options but was aware of the practice. This was not enough for the feds, so Justice and the SEC have begun to look into the matter.

Just when you thought it was safe to go back in the water…

Apple investors are faced with a new revelation that Jobs negotiated a very favorable deal with a film director when he was head of Pixar, the animation company that was sold to Disney (DIS) .Jobs is now on the Disney board and is the company’s largest shareholder and muse. So the Mouse has to deal with a potential options issue from a big shareholder.

Mr. Jobs’ deal with the director had options based on the lowest price of the stock the year prior to the employment agreement.

Jobs can only beat the devil so long.

The odds that he goes down keep increasing.

Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.