A report filed by Apple with the SEC says that Steve Jobs was aware of certain option grants that had "favorable" terms and made recommendations for some of these. He did not get a financial benefit.

It is s bit of lipstick on the pig.

Apple will restate financials from 2004 to 2006.

Jobs would appear to have known enough to put himself in harm’s way with investigators. But, he is Steve Jobs, and that is unlikely to happen. Good for him.

Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.