eBay CEO bags $8.5m in shares sale
eBay CEO and President John Donahoe sold 145,258 eBay Inc.shares for $8,555,754 ($58.90 each) in April.
In February Donahoe exercised options and sold 129,400 shares for $7.1 million ($55). Later in the year, when eBay and PayPal divorce, Donahoe will stand down as eBay Inc. CEO and President but is expected to stay on on one, or even both of eBay and PayPal’s boards. After these sales he owns 457,063 shares of eBay Inc., a stake of less than 1%.
Another eBay exec has also recently cashed in. Alan Marks, senior vice president of corporate communications, is reported to have sold 17,881 shares for $1,052,311 ($58.85 a share).
In a comment to Marketwatch, an eBay spokesman said: “Our executives regularly exercise and sell stock as part of normal financial planning.”
After ten years at eBay, it seems that Donohoe’s options were expiring so it’s not surprising he exercised them and it’s not unusual for execs to take advantages of their perks in such a way.