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EBAY INC — Director's Dealing 2011
Jun 21, 2011
30062_dirs_2011-06-21_b534b8a5-a7c0-4c0e-850b-c8d84893e027.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: EBAY INC (EBAY)
CIK: 0001065088
Period of Report: 2011-06-17
Reporting Person: Saridakis Christopher D (President, GSI)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2011-06-17 | Restricted Stock Units -1 | $ | A | 70049 | Acquired | Common Stock (70049) | Direct | |
| 2011-06-17 | Restricted Stock Units -2 | $ | A | 19649 | Acquired | Common Stock (19649) | Direct |
Footnotes
F1: Each restricted stock unit represents a contingent right to receive one share of eBay's common stock.
F2: The reporting person received 70,049 restricted stock units, vesting 25% each year on 5/4/12, 5/4/13, 5/4/14 and 5/4/15. Upon vesting, the reporting person will receive a number of shares of common stock equal to the number of restricted stock units that have vested.
F3: Not Applicable.
F4: In connection with the Agreement and Plan of Merger, dated as of March 27, 2011 (the "Merger Agreement"), by and among eBay, Gibraltar Acquisition Corp. and GSI Commerce, Inc. ("GSI"), eBay assumed all of the outstanding unvested restricted stock units of GSI under the GSI Commerce, Inc. 2005 Equity Incentive Plan, as amended, and the GSI Commerce, Inc. 2010 Equity Incentive Plan (the "GSI Equity Plans"), and each such restricted stock unit was converted into a restricted stock unit for 0.98 shares of eBay common stock. The reporting person held two unvested time-based restricted stock unit awards under the GSI Equity Plans consisting of 71,300 units and 20,000 units, respectively. On June 17, 2011, the closing date of the transactions contemplated by the Merger Agreement, the closing price of GSI's common stock was $29.54 and the closing price of eBay's common stock was $28.83.
F5: The reporting person received 19,649 restricted stock units subject to a four-year vesting schedule, vesting 25% on 3/25/12 and 25% each year thereafter. Upon vesting, the reporting person will receive a number of shares of common stock equal to the number of restricted stock units that have vested.