Broadcom backdating stock options I m sexy live chat
If the stock rises later, the recipient can cash in the option to reap a profit.The SEC had accused the Irvine, Calif.-based company's executives of manipulating the company's options grants to make it appear that they were approved during low points in the chipmaker's stock.The charges relate to the company's actual earnings under Generally Accepted Accounting Principles, or GAAP.The charges do not affect revenue, cash, cash equivalents or marketable securities balances, the company said.
The amount will be paid by Broadcom directors and officers' liability insurance.
The company said Tuesday it would also record an options-related charge of .2 million for the first quarter of 2006.
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