Steve Jobs defiant on options scandal

Apple chief Steve Jobs is adamant that he did nothing wrong in his handling of alleged back-dated stock options

Apple chief executive Steve Jobs is maintaining his stance that he did nothing wrong in his handling of alleged back-dated stock options.  

Speaking at Apple's annual shareholder meeting in Cupertino, Jobs brushed off any worries that the US Securities and Exchange Commission (SEC) may still come after him.

Jobs cited a passage in the SEC report which stated that the financial regulator would not bring legal action against Apple Inc.

"Unless you believe there is a conspiracy involving the SEC, I do not know what else to say," said Jobs, according to media reports.

Several spokespersons for the SEC have told vnunet.com that the promise applies only to the company itself, and not to any individuals within Apple. 

Jobs even joked about his compensation package and $1 annual salary, reportedly saying: "I get 50 cents a year for showing up, and the other 50 cents is based on my performance."  

His word was good enough for stockholders, who voted to reject a plan requiring the company to set dates for any future stock option grants at the beginning of the year in order to avoid issues with back-dating or 'memorialisation'.

Memorialisation occurs when a company agrees to a grant on a certain date and files it at a later time.

Shareholders also voted to retain all current members of Apple's board of directors. The board includes Jobs, Google chief executive Eric Schmidt, and former US vice president Al Gore.