Human Capital & Careers

McAfee Talking to SEC about Options

The anti-virus software maker adds its name to the long list of companies whose stock option timing is under scrutiny.
Stephen TaubMay 25, 2006

McAfee, Inc. announced that it is “in dialogue with the Securities and Exchange Commission on an informal basis” regarding its option granting practices in the late 1990s and early 2000s, according to a regulatory filing on Thursday.

The software company known for its anti-virus programs also said it has voluntarily initiated a review of its stock option grant practices during this period.

“If in the course of our review we should find anything of note, we will make the appropriate disclosures,” it added.

McAfee’s announcement is the latest from a steady stream of companies that have been revealing probes into their stock option practices in the past month.

Also on Thursday, Meade Instruments Inc., a $50-million market cap maker of telescopes, said it would delay the filing of its fiscal fourth quarter and fiscal 2006 results because the company’s audit committee has initiated an independent evaluation of its stock option grant practices following a Wall Street Journal article on May 22.

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