eBay 2008 Annual Report Download - page 114

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Stock Option Activity
The following table summarizes stock option activity under our equity incentive plans as of and for the year
ended December 31, 2008 (in thousands, except per share amounts):
Shares
Weighted Average
Exercise Price
Weighted Average
Remaining
Contractual Term
(in years)
Aggregate
Intrinsic
Value
Outstanding at January 1, 2008 .............. 117,861 $32.45
Granted and assumed ..................... 23,277 $14.43
Exercised .............................. (7,477) $12.04
Forfeited/expired/cancelled ................. (17,601) $35.19
Outstanding at December 31, 2008 ........... 116,060 $29.79 4.71 $100,916
Expected to vest at December 31, 2008 . . . ..... 111,643 $30.06 4.64 $ 90,229
Options exercisable at December 31, 2008 . ..... 85,097 $31.42 4.20 $ 40,770
The aggregate intrinsic value was calculated as the difference between the exercise price of the underlying
awards and the quoted price of our common stock. At December 31, 2008, 14.3 million options were in-the-money.
The weighted average grant-date fair value of options granted during the years 2006, 2007 and 2008 was
$10.47, $10.60 and $7.46, respectively. During the years 2006, 2007 and 2008, the aggregate intrinsic value of
options exercised under our equity incentive plans was $283.6 million, $402.4 million and $83.0 million,
respectively, determined as of the date of option exercise.
Restricted Stock Units
A summary of the status of and changes in restricted stock units granted (including performance-based
restricted stock units that have been earned) under our equity incentive plans as of December 31, 2008 and changes
during the year ended December 31, 2008 is presented below (in thousands, except per share amounts):
Shares
Weighted Average
Grant-Date Fair
Value (per share)
Oustanding at January 1, 2008 ................................ 8,833 $32.70
Awarded................................................ 23,676 $23.91
Vested.................................................. (2,156) $32.47
Forfeited ................................................ (3,532) $28.59
Outstanding at December 31, 2008 ............................. 26,821 $25.50
Expected to vest at December 31, 2008 ......................... 21,560
106
eBay Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)