Backdating contract english law


21-Oct-2019 14:11

backdating contract english law-46

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These example sentences are selected automatically from various online news sources to reflect current usage of the word 'backdate.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. What It Is In the finance world, backdating usually refers to the practice of changing the dates of option grants to one that is earlier than the actual grant date in order to place a lower exercise price on the options and thus enhance the potential profits from the exercise of those stock options.

The practice sometimes also occurs in the insurance industry, whereby policy issuers make the effective date of a policy (or claim) earlier than the application date in order to obtain a lower premium for the customer (or obtain better claim results).

Under normal circumstances, he pays the per share exercise price and can turn around and sell those shares on the exchange for each, netting a profit of per share, or ,000 total.

But if John's options are backdated, then his exercise price is only per share.

For instance, if the board meeting is on January 3, 2012, and Company XYZ stock closes at per share that day, then the exercise price of John's 2012 stock option grant is per share.

For example, an invoice might be backdated to falsify the date on which revenue was received or on which expenses were incurred in order to claim a tax benefit.Typically, the grant date of the stock options is the same as the date of the board meeting.



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