Skip to main content

Paul Atkins (Hearts) Backdating

  • Author:
  • Updated:

Paul Atkins may be our favorite SEC commissioner. Unlike that prissy little commissioner Cynthia Glassman who says that some backdating is “clearly illegal,” Paul emphasized in a recent speech the fact that “well-timed” options can be a totally rational and inexpensive way to compensate executive. Hmm, where did we hear that before?
And wouldn't you know it? Glassman’s leaving the SEC just when this was starting to get interesting. Afraid of the Atkins smackdown, no doub.t
Okay. Fine. Atkins probably wasn't going to take his pimp hand to Glassman. And just to be clear, there isn’t really that much difference between what Atkins and Glassman said. It’s really more of a matter of emphasis, and for all we know that emphasis may be coming from the published reports rather than the commissioners. Glassman did say that only “some” backdating is clearly illegal, implying that some might be legal. And Atkins did say there would be "intense regulatory reaction" to backdated options grant that conflict with their public disclosures.

Spring-loading good for companies -- SEC official