VeriSign CFO quits; options costs seen at $160 mn

SAN FRANCISCO: VeriSign, an internet security company, said on Thursday that chief financial officer Dana Evan resigned and the company restated financial reports to account for $160.3 million in stock-based compensation. Evan resigned July 10 and is being succeeded by Bert Clement, a former senior vice-president for finance and company controller. The company said it had filed with the US Securities and Exchange Commission its 2006 annual report and overdue reports for the second and third quarters of 2006 that include financial information restated as a result of a review into VeriSign's stock-option granting practices.