EBay Inc.’s chief executive, Meg Whitman, saw her 2005 compensation package reduced by as much two-thirds as her stock options were slashed and her salary and bonus were little changed from 2004, according to a filing on Wednesday.
Whitman’s 2005 compensation package totaled $10 million, including stock options estimated to have a present value of $6.9 million, and salary plus performance bonuses of $3.1 million. That’s down from a total compensation package with an estimated value of around $30 million in 2004.
In a filing with the U.S. Securities & Exchange Commission ahead of eBay’s annual shareholder meeting, eBay said it cut the number of stock options awarded to Whitman in 2005 to 550,000, down from 1.2 million in 2004 and 2.2 million in 2003.
The reduced pay came as eBay’s stock lost a quarter of its value during 2005, amid concerns that the company’s online auction business may be maturing and questions on how long it will take for new businesses, such Internet phone company Skype that it acquired last year, to kick in.
No comments yet.