A Look Back at Steve Jobs' 2003 Stock Options Swap Reveals $10 Billion Opportunity Lost


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marketwatch takes look @ "what might have been", examining apple ceo steve jobs' decision accept march 2003 offer company exchange existing stock options new ones @ more attractive price in comparison company's languishing stock price @ time, move appear have cost jobs $10 billion in net worth @ today's prices.
with jobs holding multiple lots of stock options exercise prices of $9.15 (15 million shares) , $21.80 (40 million shares), stake in options worthless @ time beyond potential share price increases push options positive territory in future.

jobs not apple employee in position, however, , when company offered employees opportunity cancel existing options in exchange smaller number of options @ lower price, jobs , others took offer.
had jobs held onto original options, have seen them become profitable approximately year , half later , worth $12.8 billion today. difference means missed opportunity of $10.3 billion jobs.

report notes, however, jobs of course not hurting wealth, having been ranked world's 136th richest person in forbes' recent rankings. majority of jobs' wealth comes holdings of disney, became company's largest individual shareholder after purchased pixar in 2006.

, there may have been upside jobs' cancellation of original stock options. portion of options, along additional grants made other apple executives, focus of backdating scandal, resulted in investigation u.s. securities , exchange commission , departure of former chief financial officer fred anderson apple's board of directors , general counsel nancy heinen company.

article link: a @ steve jobs' 2003 stock options swap reveals $10 billion opportunity lost
 

awwwww poor guy
 


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