BEA Systems Sees Higher Stock Options Charge

It now expects costs of up to $425 million.
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SAN FRANCISCO -- BEA Systems (BEAS) will take a larger-than-expected charge for misdated stock options going back to 1998, the company reported late Wednesday.

The San Jose, Calif., software company expects the charge will be $425 million, up from its prior estimate of $340 million to $390 million.

BEA, which develops business infrastructure software, said the increase is due to options-related employee severance arrangements, which will be $175 million. The company estimates the charge related to correcting stock option dates and other adjustments will be $250 million.

The stock was down 11 cents, or 0.8%, to $13.75 in after-hours trading.

The company said it would submit new and restated financials for July 2006 through July 2007 to the

Securities and Exchange Commission

on Thursday.

In August 2006, BEA began a review of its options dating practices. As many as 140 technology companies, including

Apple

(AAPL) - Get Report

, have been found to have given backdated stock option grants to insiders.