Institutional Shareholder Services had some pretty strong words about Apple recently.

Read what they said about Apple

A resounding no-confidence vote

“The Apple board’s handling of the entire options imbroglio does not inspire investor confidence. The window into current and past compensation practices at the company provided by the board is best described as opaque. Instead the board has taken insufficient steps to assure investors that insiders will not profit from the favorable timing of equity grants. Such behavior sets an unacceptably low bar for corporate conduct at Apple, and in this age of heightened corporate scrutiny, it is critical that the board set the tone. Strong financial performance does not excuse such shortcomings regarding the oversight of grant timing. CEO Steve Jobs has been instrumental in creating significant shareholder value; however, a cult-like devotion to any CEO can be a huge downside risk to shareholders. The entire board, including Steve Jobs, needs to ensure that even superstar CEOs do not rule the empire.”

— Conclusion of Institutional Shareholder Services’ proxy analysis of Apple

Read the whole article.

I wonder what they think about the stock options games played by NetApp’s management ?

You can’t make this stuff up!