Comverse Technology Inc.’s former financial chief pleaded guilty to securities-fraud charges Tuesday in a stock-options backdating scheme, making him the first company executive to plead guilty as prosecutors amp up their scrutiny of corporate options programs.

David Kreinberg, the New York voice mail-software maker’s ex-chief financial officer, entered his plea to securities fraud and conspiracy to commit securities fraud, mail fraud and wire fraud at a hearing before U.S. District Judge Nicholas G. Garaufis in federal court in Brooklyn on Tuesday.

He faces up to 10 years in prison for securities fraud and a maximum of five years in prison for conspiracy. Prosecutors said the estimated appropriate restitution for Mr. Kreinberg would be $51 million.

Guy Petrillo, Mr. Kreinberg’s lawyer, said Mr. Kreinberg had reached an agreement with the Securities and Exchange Commission to disgorge $2.4 million. He asked the judge for a chance to discuss the appropriate restitution in the criminal matter at a later date.

Mr. Kreinberg’s guilty plea comes as prosecutors and regulators have taken a harder line on backdating of options. More than 100 companies are being investigated and a number of executives have lost their jobs as the probes have unfolded.

Comverse Ex-Chief Executive Jacob “Kobi”Alexander; the company’s former senior general counsel, William F. Sorin; and Mr. Kreinberg were all charged in August with conspiracy to commit mail fraud, securities fraud and wire fraud in an alleged scheme to improperly backdate options at the company.

The Securities and Exchange Commission also has separately filed civil charges against the men.