eBay 2001 Annual Report Download - page 93

Download and view the complete annual report

Please find page 93 of the 2001 eBay annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 101

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101

eBay Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Ì (CONTINUED)
401(k) Savings Plan
We have a savings plan, which qualiÑes under Section 401(k) of the Internal Revenue Code.
Participating employees may contribute up to 25% of their annual salary, but not more than statutory
limits. We contribute one dollar for each dollar a participant contributes, with a maximum contribution of
$1,500 per employee. Our matching contributions were $856,000 in 1999, $1.8 million in 2000, and
$1.7 million 2001.
Stock option plans
We have stock option plans for directors, oÇcers and employees, under which we have made to date
only nonqualiÑed and incentive stock option grants. These stock options generally vest 25% one year from
the date of grant and the remainder vests at a rate of 2.08% per month and expire 10 years from the date
of grant. Stock options issued prior to June 1998, were exercisable immediately, subject to repurchase
rights held by us, which lapse over the vesting period. At December 31, 2001, stock options for
11.7 million shares were available for future grant.
The following table summarizes activity under our stock option plans for the years ended
December 31, 1999, 2000 and 2001 (shares in thousands):
Year Ended December 31,
1999 2000 2001
Weighted Weighted Weighted
Average Average Average
Exercise Exercise Exercise
Shares Price Shares Price Shares Price
Outstanding at beginning of period ÏÏÏÏÏÏÏÏ 18,493 $ 1.84 26,236 $29.73 26,249 $38.99
Granted ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 12,210 64.59 9,037 62.69 19,621 46.87
Exercised ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ (3,551) 1.95 (4,499) 6.23 (6,813) 17.26
Cancelled ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ (916) 38.96 (4,525) 65.41 (3,955) 51.20
Outstanding at end of period ÏÏÏÏÏÏÏÏÏÏÏÏÏ 26,236 29.73 26,249 38.99 35,102 46.24
Options exercisable at end of period ÏÏÏÏÏÏÏ 3,654 5.03 7,006 27.73 10,465 41.67
Weighted average grant date fair value of
options granted during period ÏÏÏÏÏÏÏÏÏÏÏ $40.45 $41.40 $27.80
89