EBay insiders plan to sell 1.79 million shares(this usually means a form4 is already in the works--not always,but often)
By Lisa J Ulmer, CBS MarketWatch
Last Update: 2:53 PM ET Nov 3, 1999
See: Net Stocks
SAN JOSE (CBS.MW) -- EBay insiders, including the chief executive,
plan to sell 1.79 million shares of common stock for an estimated value of
about $235.2 million.
"This represents the first opportunity for the
executive board and directors to sell their
respective shares as a public company," EBay
spokesman Kevin Pursglove told
CBS.MarketWatch.com.
Margaret Whitman, CEO and president at the
online auction powerhouse (EBAY: news, msgs),
registered to sell 300,000 shares worth $40.8
million, according to filings with the Securities and
Exchange Commission.
Michael Jacobson, Jeffrey Skoll, Brian Swette,
Steve Westly and Michael Wilson, all vice
presidents, registered to sell a combined 1.1 million
shares, worth an estimated $147.5 million.
Chairman and founder Pierre Omidyar moved to
sell a total of 300,000 shares for an estimated
worth of $46.9 million and Chief Financial Officer
Gary Bengier registered100,000 shares, valued at
$13.6 million.
Pursglove said the officers desire to sell their shares for personal financial
reasons.
The SEC filing completed by the EBay officials, Form 144, represents
only an intent to sell. Further filings are required for sales transactions.
Shares will be offered through Goldman Sachs & Co. |
