Citrix 2006 Annual Report Download - page 54
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We have made changes in our stock option granting
practices, processes and controls, which we believe
remediated past deficiencies in our historical stock option
practices, including the following:
• In response to the requirements of the
Sarbanes-Oxley Act of 2002, we implemented
documentation and accounting policies, processes
and procedures, which led to a segregation
of responsibilities, the addition of reviews and
reconciliations and redefinition of the roles and
responsibilities of the personnel involved in our
stock option granting and accounting processes;
• In November 2003, our Compensation Committee
delegated authority to our Chief Executive Officer
and our Chief Financial Officer to grant stock
options to our non-executive employees, subject to
certain parameters; and
• Prior to our January 2006 adoption of SFAS
No. 123R and its related interpretations, we
reviewed our stock option granting practices and
revised policies and procedures to comply with the
requirements regarding grant date determinations.