psunite
Joined: 27 Jan 2005
Posts: 6213
Location: Columbus OH
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| Posted: Mon Jul 24, 2006 12:05 pm Post subject: EBay COO's profit per share shrinks |
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WEBB HAS SOLD $90 MILLION SINCE JOINING COMPANY
EBay Chief Operating Officer Maynard Webb, who has pocketed more than $90 million exercising and selling eBay option shares since joining the company in 1999, will retire from the company in August. In his most recent trade on June 30, he spent $484,688 exercising his option to buy 25,000 shares for $19.39 each, and then sold them for $728,328, or $29.13 each.
The $9.74 per-share profit was one of the lowest Webb has gotten in his trades over the years. In 2004, when he made $20 million exercising and selling eBay shares, his average profit per share was $27.61.
Webb, 50, offered no reason for his decision to leave the company at this time, and eBay said it had no plans to fill Webb's role after he goes.
Shares of eBay fell to a 52-week low of $24.32 Friday before closing at $24.66. On Wednesday, eBay said profit and sales for its third quarter would probably miss analysts' targets. The stock is down 43 percent so far this year.
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