eBay SVP Boone Cornelius Exercises RSUs; 3,379 Shares Withheld

What Happened

• Boone Cornelius, SVP & Chief People Officer at eBay (EBAY), had restricted stock units (RSUs) convert into common shares on 2026-09-15. A total of 8,897 shares were issued upon conversion (2,778 + 2,206 + 2,200 + 1,713).
• To satisfy tax withholding obligations, 3,379 of those shares were withheld (1,033; 833; 844; 669) at a reported value of $108.03 per share, totaling $365,033. These withholding transactions are recorded as “Payment of exercise price or tax liability” (code F). The RSU conversions are recorded as derivative exercises/conversions (code M) at $0 exercise price.
• This is not an open-market sale or discretionary purchase — it’s a routine vesting/settlement of RSUs with shares surrendered to cover taxes (a cashless/net settlement).

Key Details

• Transaction date: 2026-09-15; Filing date (Form 4): 2026-09-17 (appears timely).
• Shares issued on vesting: 8,897 shares total.
• Shares withheld for taxes: 3,379 shares; withholding proceeds reported as $365,033 (at $108.03/share).
• Transaction codes: M = exercise/conversion of derivative (RSU conversion); F = payment of tax liability via share withholding.
• Shares owned after transaction: not provided in the supplied excerpt of the filing.
• Footnotes: RSUs described by multiple grants with staggered vesting schedules (footnotes F1–F6). Each RSU converts to one share upon vesting per the listed schedules.

Context

• This is a common payroll/tax-related transaction when RSUs vest. The conversion of RSUs into shares (derivative exercise) followed by share withholding to cover taxes is often called a cashless or net settlement and does not necessarily indicate a buy or sell decision about the stock.
• No 10b5-1 plan, gifts, or late-filing flags were noted in the provided details.