Thursday, April 24, 2008

KLA-Tencor Violates 409A; Takes Charge Relating to Backdating; Reimburses Employees for 409A Penalties

KLA-Tencor takes big charge relating to backdating stock options, reimbursing employees for 409A penalty taxes, and related costs.

Press Release (see footnotes)

Stock option backdating; $65 million payout; $400 million in restatements.

Tender Offer to replace bad options

CFO Resigns

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