BY INVITATION ONLY

Program for Symposium on Backdating of Options

Weinberg Center of Corporate Governance

University of Delaware

May 4-5, 2007

Time	Event
May 4:	Dinner – 7:00 pm
May 5:	Symposium – Alfred Lerner Hall, Room 126
7:45 – 8:30 am	Breakfast -- Alfred Lerner Hall Atrium
8:30 – 9:30 am	“What Fraction of Stock Option Grants to Top Executives Have Been Backdated or Manipulated” by Randall A. Heron Kelley School of Business, Indiana University and Erik Lie, Henry B. Tippie College of Business, University of Iowa Link to paper
8:30 – 9:00 am	Paper presented by Erik Lie
9:00 – 9:15 am	Discussion by Jennifer Carpenter, Stern School of Business, New York University
9:15 – 9:30 am	Q&A from the audience
9:30 – 10:30 am	“Corporate Governance and Backdating of Executive Stock Options" by Daniel W. Collins, Henry B. Tippie College of Business, University of Iowa, Guogin Gong, Smeal College of Business, Pennsylvania State University, and Haidin Li, Henry B. Tippie College of Business, University of Iowa http://papers.ssrn.com/sol3/papers.cfm?abstract_id=934881
9:30 – 10:00 am	Paper presented by Daniel W. Collins
10:00 – 10:15 am	Discussion by Justice Jack Jacobs, Delaware Supreme Court
10:15 – 10:30 am	Q&A by Audience
10:30 – 11:00 am	Break
11:00 am – Noon	Roundtable Discussion Panelists 1. Charles Elson, Moderator 2. Mark Adler, Deputy Chief of the Trial Unit, Securities & Exchange Commission 3. William Carmichael, President, The Succession Fund 4. The Honorable William Chandler, Chancellor, Chancery Court of Delaware 5. Brian Foley, Brian Foley & Company, Inc. 6. The Honorable Jack Jacobs, Justice, Supreme Court of Delaware 7. Mark Maremont, Wall Street Journal 8. David McBride, Partner, Young Conaway Stargatt & Taylor, LLP 9. Pat McGurn, Institutional Shareholder Services
Noon – 1:00 pm	Lunch
1:00 – 2:00 pm	“Strategic Timing and Backdating of Executive Stock Option Exercises: Before and After the Sarbanes-Oxley Act” by David C. Cicero, U.S. Securities and Exchange Commission http://papers.ssrn.com/sol3/papers.cfm?abstract_id=961289
1:00 – 1:30 pm	Paper presented by David Cicero
1:30 – 1:45 pm	Discussion by (tentative) John Core, The Wharton School, University of Pennsylvania
1:45 – 2:00 pm	Q&A by Audience
2:00 – 3:00 pm	“Lucky Directors” by Lucian Arye Bebchuk, Harvard Law School, Yaniv Grinstein, Samuel Curtis Johnson School of Management, Cornell University, and Urs Peyer, INSEAD – finance http://papers.ssrn.com/sol3/papers.cfm?abstract_id=952239
2:00 – 2:30 pm	Paper presented by Yaniv Grinstein
2:30 – 2:45 pm	Discussion by Chancellor William Chandler, Delaware Chancery Court
2:45 – 3:00 pm	Q&A by Audience
3:00 pm	End of Symposium