Wednesday, September 27, 2023
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Monster’s Ex-CEO Admits Backdating Options

WASHINGTON (CN) - The former CEO of Monster will pay $276,000 for backdating stock options and is barred from serving as officer or director of a public corporation, the SEC said today. Andrew McKelvey allowed other officers to unjustly enrich themselves by backdating stock options from 1997 through 2005, and misrepresented the grants in false statements to the SEC. McKelvey himself did not receive backdated stock options. See filing.

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