Shareholders Approve eBay's Options Plan

A proposal to create a deferred stock plan for directors and employees drew similar opposition, but also passed. The deferred stock plan will set aside 1 million shares that the company can award to directors and employees. Under the plan, the company will give new directors $150,000 worth of deferred stock when they are elected to its board.

The proposal passed with about 71% of shares voting in favor of it, according to Morrow & Company's unofficial tally. About 16% of shares voted against the proposal, some 0.5% abstained and about 12% of share withheld their votes.

Other proposals drew less opposition from shareholders. Investors overwhelmingly approved PricewaterhouseCoopers as the company's auditors. Some 86% of shares approved the auditor choice, while just 1.5% voted against and 0.5% abstained and 12% withheld their vote.

Meanwhile, shareholders re-elected Chairman Pierre Omidyar and Director Dawn Lepore with votes roughly similar to that on the auditors, said Justin O'Keefe, an assistant team leader at Morrow & Company.

Lepore and PricewaterhouseCoopers had drawn some objections from shareholders because the auditor has also done consulting work for eBay. CalPers, which objects to auditors having this dual role at companies they audit, voted against PricewaterhouseCoopers for that reason.

The agency also voted against Lepore because she sits on eBay's audit committee and approved of PricewaterhouseCoopers' dual role.