By the time investors learned of the grant when it was disclosed publicly on June 8, the share price had climbed to $50, an increase of $16.40.
That means within five weeks of the grant date, each CEO already had seen a gain of $1.64-million in the value of his options.
This is usually introduced by wording such as: to type this date in the agreement prior to signature, but rather to write the date in by hand once all parties have signed.
More often than not, in our experience, when parties type the date in ahead of signature, one or both parties fails to sign on the typed date.
Accordingly, mis-dating a contract could amount to an offence under this Act.