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Alternatively, is there a way of legally trying to achieve the required objective?
If the document is putting in place something which “should have been done” but hasn’t been, usually for tax or similar reasons, then the position is straightforward.
Whenever I write about backdating, many people write in to tell me that backdating’s not illegal; you just have to account for it correctly.
Granting stock options to employees is a generally accepted and perfectly legal form of compensating employees. Critics of backdating argue that the practice is difficult to detect and thus encourages boards and executives to use it to synthesize more creative compensation packages.
She’s saying that shareholders will naively think that the options were really granted on January 2, leaving them suspicious of springloading.
It goes without saying that they also won’t realize that, in reality, it’s all being done a month later.
A client or, in the case of an in house lawyer colleague (who for the purposes of this article will also be considered a client), asks you to prepare a document and then your heart sinks as he says “oh and it has to be dated” and gives a date which has already passed.
Is it legal to comply with the request or must it always be refused outright?
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This is important to note, because the grant date is what determines the exercise price on the options.