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NEW YORK (AP) -- The president, chief executive and director of online auctioneer eBay Inc. exercised options for and then sold 640,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Friday. In a Form 4 filed with the SEC, Margaret C. Whitman reported she exercised the options on Thursday and Friday for $10.02 apiece and then sold all of the shares on the same days for $35.25 to $35.55 apiece. The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information. Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction. EBay is based in San Jose, Calif.
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