Recall that SOX required that executive-level stock option grants be reported to the Securities and Exchange Commission within two days of the grant. The move was designed to give companies less fudge room when it comes to doling out these contracts. You may be surprised to learn that a lot of backdating and other timing games apparently still go on. Media outlets have been rife with stories about several high-profile cases [1]. It's troubling that this kind of stuff still goes on. Still, you would have to agree that SOX cut down on this problem significantly. There is a message here: When such issues heat up, you must remain vigilant against even the appearance of wrongdoing. Clearly, there are consequences. Same-day reporting anyone? 

> Here's an article [2] that describes investor reactions.