eBay execs to sell $15 million in stock

eBay Chairman Pierre Omidyar and three company executives on Thursday filed to sell more than $15 million worth of stock in the online auction giant. Omidyar, who founded eBay and is the company's largest shareholder, registered to sell 83,800 shares, worth about $4.9 million. Others registering to sell stock included Maynard Webb, president of eBay's technology division; Jeff Jordan, senior vice president and general manager of eBay's U.S. operations; and Mike Jacobson, the company's general counsel. The proposed stock sales are part of the normal selling activity by eBay's board of directors and executives, said company spokesman Kevin Pursglove. The company's executives typically sell shares for financial planning purposes or to diversify their portfolios, he said.The proposed stock sales are only the latest by eBay executives. Earlier this week, a trust controlled by Meg Whitman, the company's chief executive, filed to sell 405,000 shares of eBay stock, worth about $22.4 million. Last month, Matthew Bannick, senior vice president in charge of eBay's international operations; Chief Financial Officer Rajiv Dutta filed to sell shares worth more than $1 million each. -- Troy Wolverton, Special to ZDNet NewsStory Copyright © 2001 Reuters Limited. All rights reserved.