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This excerpt taken from the EBAY 10-K filed Feb 17, 2010. Note 16 — Common Stock: Our Certificate of Incorporation, as amended, authorizes us to issue 3.6 billion shares of common stock. A portion of the shares issued and outstanding were issued to our employees and are subject to repurchase or forfeiture over a four-year period from the earlier of the issuance date or employee hire date, as applicable. This excerpt taken from the EBAY 10-K filed Feb 28, 2007. Note 11 —
Common Stock:
Our Certificate of Incorporation, as amended, authorizes us to
issue 3,580 million shares of common stock. A portion of
the shares outstanding are subject to repurchase or forfeiture
over a four-year period from the earlier of the issuance date or
employee hire date, as applicable. At December 31, 2005 and
2006 there were 40,000 and 551,676 shares subject to
repurchase rights or forfeiture, respectively.
At December 31, 2006, we had reserved 235.7 million
shares of common stock available for future issuance under our
stock option plans, including 137.1 million shares related
to outstanding stock options. In addition, as of
December 31, 2006, we had reserved approximately
4.0 million shares of common stock available for future
issuance under our deferred stock unit plan, and approximately
5.6 million shares of common stock available for future
issuance under our employee stock purchase plan.
Treasury
Stock
In July 2006, our Board of Directors authorized the repurchase
of up to $2.0 billion of the company’s common stock
within two years from the date of authorization. The stock
repurchase program was announced in July 2006. During 2006, we
repurchased 54.5 million shares of our common stock at an
average price of $30.56 per share for an aggregate purchase
price of $1.7 billion. As of December 31, 2006,
$0.3 billion remained available for further purchases under
the July 2006 program. During 2006, we also repurchased
approximately 88,000 shares from employees.
These repurchased shares are recorded as treasury stock and are
accounted for under the cost method. No repurchased shares have
been retired.
Table of Contents
eBay
Inc.
NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
The stock repurchase program may be limited or terminated at any
time without prior notice. Stock repurchases under this program
may be made through a variety of open market and privately
negotiated transactions, including structured stock repurchase
transactions or other derivative transactions, at times and in
such amounts as management deems appropriate and will be funded
from the company’s working capital or other financing
alternatives. The timing and actual number of shares repurchased
will depend on a variety of factors including corporate and
regulatory requirements, price and other market conditions. The
program is intended to comply with the volume, timing and other
limitations set forth in
Rule 10b-18
under the Securities Exchange Act of 1934.
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