Former Apple CFO Jabs Jobs

"It now appears the Board may not have given the necessary prior approval to the grants, contrary to what Mr. Anderson understood from Mr. Jobs and from the Board's signing of the UWC [Unanimous Written Consent] with an effective date of January 17," said Roth.

As for the October 2001 grant to Jobs, Anderson "had virtually no involvement as he was not a member of the Board and did not have a formal role in compensation matters pertaining to the CEO."

Citing lawyers intimately familiar with the Jobs grant, The San Jose Mercury News reported on Monday that prospects are slim for a criminal case against Jobs, who approved widespread backdating at the company, but no evidence exists that he directed his own grant -- or covered it up.

The SEC also said it would not bring any enforcement action against Apple, based in part on "its swift, extensive, and extraordinary cooperation in the Commission's investigation."

Shares of Apple slipped on news of the charges but were recently trading back near their highs for the session -- up 85 cents, or 0.9%, to $94.37.

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