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Sharper Image Reports Possible Stock Option Backdating
Mar 20, 2007
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Retailer Sharper Image Corporation (San Francisco, California, U.S.) said today that it filed quarterly reports for the quarters ended July 31, 2006 and Oct. 31, 2006. This, along with recent filings of its amended report for the quarter ended April 30, 2006 and an amended annual report for the year ended Jan. 31, 2006, brings it current in its filing status with the Securities and Exchange Commission.

Documents filed by Sharper Image with the SEC also indicate it might have backdated stock options for executives. "The Special Committee could not rule out the possibility that the original grant dates for some of the grants were selected with the benefit of hindsight," the retailer said in papers filed with the SEC.

The executives involved have all left the company and include the former CEO, former president/chief operating officer and former chief financial officer. All agreed to reductions in their severance payments commensurate with their excess earnings.

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