Dec. 29 (Bloomberg) -- Walt Disney Co.'s Pixar unit is being probed by the U.S. Securities and Exchange Commission over stock option awards, the Financial Times reported, without saying where it got the information.

Disney, which bought Pixar in May, is also carrying out an independent review of the company's stock option practices after it received inquiries from the SEC and the U.S. Justice Department, the FT reported, citing Disney. Disney spokesman Jonathan Friedland didn't immediately respond to an e-mail by Bloomberg after office hours.

Pixar was founded by Apple Computer Inc. Chief Executive Officer Steve Jobs, who was given stock options in 2001 without the authorization of Apple's board, the FT reported this week. Jobs didn't receive any Pixar options himself, the FT said.

(Financial Times, 12-29, p. 18)

To contact the reporter for this story: Bill Murray in London at at wmurray1@bloomberg.net

Last Updated: December 28, 2006 21:51 EST