Blocade backdating

Reyes obtained his first CEO position with Wireless Access, a Silicon Valley start-up company specializing in two-way pagers.

Reyes served as President and CEO until Wireless Access was bought out in 1997 by Glenayre Technologies.

As CEO of Brocade Communications, Reyes sold SAN (storage area network) infrastructure to a number of companies, including IBM, EMC Corp., Compaq, Dell, NEC, and HP.

During Reyes's time as CEO, Brocade was the largest manufacturer of networking equipment that provides data storage in the world.

Under his leadership, the company went public in May 1999, growing from a small startup business into one of the largest and most successful technology companies in the Silicon Valley—a leadership position that it maintains to this day.

Brocade showed 7 quarters of profitability and revenue growth during that time—in the first two years alone, revenue growth exceeded 150% altogether.

On June 24, 2010, Reyes was sentenced to 18 months' incarceration and a million fine.

Gregory Reyes (born September 1, 1962) is an American businessman who most recently served as the chief executive officer (CEO) for Brocade Communications.

He is the first person to have been convicted for fraudulent backdating of corporate stock options.

Reyes was originally convicted in 2007, Reyes's trial began on June 18, 2007, making it the first criminal trial in which a backdating prosecution was considered before a jury.

In the trial, Reyes stated that he had no intent to deceive anyone, and that his decisions relied largely in good faith on the accuracy of documentation provided by Brocade's finance department, which incorrectly accounted for stock options in Brocade's financial statements that he signed in good faith and with the belief that they had been properly accounted for.

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In a letter to Fortune Magazine she told an editor that she, as well as other high-ranking members of the finance department, had been aware of the practice of backdating stock options to rank-and-file employees.

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