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EBAY » Topics » OPTION GRANTS DURING 2005

This excerpt taken from the EBAY DEF 14A filed Apr 26, 2006.
OPTION GRANTS DURING 2005
 
                                         
    Number of
 		    Percentage of
 		                   
    Securities
 		    Total Options
 		                   
    Underlying
 		    Granted to
 		    Exercise
 		             
    Options
 		    Employees
 		    Price per
 		    Expiration
 		    Grant Date
 		 
Name
  Granted(1)     During 2005(2)     Share(3)     Date     Present Value(4)  
 
Margaret C. Whitman
    550,000       1.6 %   $ 42.58       3/1/15     $ 6,894,546  
Maynard G. Webb, Jr. 
    300,000       0.9       42.58       3/1/15       3,760,661  
John J. Donahoe
    1,000,000       2.9       35.50       3/25/15       10,619,950  
Jeffrey D. Jordan
    185,000       0.5       42.58       3/1/15       2,319,074  
Rajiv Dutta
    185,000       0.5       42.58       3/1/15       2,319,074  
      200,000       0.6       46.71       11/25/15       2,650,250  
 
 
(1) Options granted in 2005 were granted under our 2001 Equity Incentive Plan. All options granted in 2005 to the Named Executive Officers were granted by our Board of Directors, are nonqualified stock options, and are subject to a four-year vesting schedule, and, except for Mr. Donahoe’s option and Mr. Dutta’s November 25, 2005 option grant, such options vest 12.5% six months after the grant date and 1/48 per month thereafter. Mr. Donahoe’s new hire option grant vests 25% on the first anniversary of the grant date and 1/48 per month thereafter. Mr. Dutta’s November 25, 2005 option grant vests 50% on November 22, 2007 and 1/48 per month thereafter. Amounts have been adjusted to reflect the two-for-one stock split that occurred on February 16, 2005.
 
(2) Based on options to purchase 34,488,548 shares of our common stock granted to employees in 2005.
 
(3) Options were granted at an exercise price equal to the fair market value of our common stock, as determined by our Board of Directors, on the date of grant. The exercise prices per share listed in the table above are rounded up to the nearest cent. The exercise per share has been adjusted to reflect the two-for-one stock split that occurred on February 16, 2005.
 
(4) Represents the estimated fair value of stock options as of the applicable grant date. The Black-Scholes method is used to estimate the fair value in accordance with the requirements of Financial Accounting Standards Board’s Statement of Financial Accounting Standards 123(R) (FAS 123R). The estimated fair value of all stock-based compensation is amortized over the vesting period and is reflected in the footnotes to eBay’s consolidated financial statements through fiscal year 2005 and, beginning in fiscal year 2006, will be included as an expense in the eBay’s consolidated income statement in accordance with FAS 123R.
 
The following table sets forth the number of shares acquired and the value realized upon exercise of stock options during 2005 and the number of shares of our common stock subject to exercisable and unexercisable stock options held as of December 31, 2005 by each of the Named Executive Officers. The value at fiscal year end is measured as the difference between the exercise price and the fair market value at close of market on December 31, 2005, which was $43.22.
 

"OPTION GRANTS DURING 2005" elsewhere:

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