Yahoo 2013 Annual Report Download - page 36

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Separately, we sold warrants to the Option Counterparties for $125 million giving them the right to purchase
from us, subject to customary anti-dilution adjustments, approximately 26.9 million shares of Yahoo’s common
stock, with a strike price of $71.24 per share. We sold the warrants to the Option Counterparties in a private
placement under Section 4(a)(2) of the Securities Act. The warrants will have a dilutive effect with respect to our
common stock to the extent that the market price per share of our common stock exceeds the strike price of the
warrants on or prior to the expiration date of the warrants.
Acquisition of Aviate
On December 23, 2013, we entered into a stock purchase agreement to acquire ThumbsUp Labs, Inc. (“Aviate”).
The acquisition closed on December 24, 2013. As a part of the acquisition, we agreed to issue 277,284 shares of
Yahoo common stock (valued at approximately $11 million) to key employees of Aviate in private placements
under Section 4(a)(2) of the Securities Act. One-fourth of the shares will be issued on the first anniversary of the
closing of the acquisition, and the remaining shares will be issued in 36 equal monthly installments thereafter,
subject to each recipient’s continued employment with Yahoo through the issuance date.
Performance Graph
This performance graph shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section and shall not be
deemed to be incorporated by reference into any filing of Yahoo! Inc. under the Securities Act or the Exchange
Act.
The following graph compares, for the five-year period ended December 31, 2013, the cumulative total
stockholder return for Yahoo’s common stock, the NASDAQ 100 Index, the Standard & Poor’s North American
Technology-Internet Index (the “SPGIINTR”), and the Standard & Poor’s 500 Stock Index (the “S&P 500
Index”). Measurement points are the last trading day of each of Yahoo’s fiscal years ended December 31, 2009,
December 31, 2010, December 31, 2011, December 31, 2012, and December 31, 2013. The graph assumes that
$100 was invested at the market close on December 31, 2008 in the common stock of Yahoo, the NASDAQ 100
Index, the SPGIINTR, and the S&P 500 Index and assumes reinvestment of any dividends. The stock price
performance on the following graph is not necessarily indicative of future stock price performance.
$100.00
$150.00
$200.00
$250.00
$300.00
$350.00
$400.00
$450.00
$500.00
$550.00
Yahoo! Inc.
NASDAQ 100
S&P 500 Index
SPGIINTR
12/31/2008
12/31/2013
12/31/2012
12/30/2011
12/31/2010
12/31/2009
34