United Arab Emirates January backdating business definition definution I am sure that from time to time we have all come across the vexed question of backdating documents. Is it legal to comply with the request or must it always be refused outright? Alternatively, is there a way of legally trying to achieve the required objective?
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Backdating 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. Those options give John the right but not the obligation to purchase 1,000 shares of Company XYZ stock at the market price on the date of the grant. The board formally grants the stock options to John every year at its January board meeting.
Updated Jan 18, 2018 What is Backdating Backdating is the practice of marking a document, whether a check, contract or other legally binding document, with a date that is prior to what it should be. Backdating is usually disallowed and even can be illegal or fraudulent based on the situation. There are certain situations, however, when backdating is acceptable; however, the parties involved must agree to it.
what is backdating stock options
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