Insider Form 4: EBAY’s Adriane Brown adds 4.6k shares, now holds 39.9k

Rhea-AI Filing Summary

On 06/24/2025 eBay Inc. (EBAY) filed a Form 4 disclosing that director Adriane M. Brown acquired 4,644 shares of common stock on 06/20/2025 through the automatic conversion (transaction code M) of previously granted restricted stock units (RSUs). The RSU grant, valued at $250,000 on the grant date, vests 100% on the earlier of one year or the next annual shareholder meeting, provided the director continues to serve. Each RSU converts into one share at no cash cost to the director.

Following the conversion, Brown's direct beneficial ownership increased to 39,958 shares. No shares were sold and the filing lists no remaining derivative positions. While the additional 4,644 shares are immaterial to eBay’s overall share count, the transaction signals continued equity alignment between the board member and shareholders and represents routine non-employee director compensation rather than an open-market purchase.

Positive

• Director ownership increased: Adriane Brown now holds 39,958 shares after 4,644 RSUs converted at no cost, reinforcing governance alignment.

Negative

• None.

Insights

Corporate Governance Analyst

TL;DR – Routine RSU vesting adds 4,644 shares to EBAY director Adriane Brown; neutral impact on company valuation.

The Form 4 records an equity award conversion, not a cash purchase, so it does not alter corporate cash flows or signal opportunistic insider buying. Brown’s stake rises to 39,958 shares, aligning her incentives with shareholders, but the volume is negligible versus eBay’s multi-billion-share base. No disposals occurred, maintaining stability in insider holdings. Overall, the event is governance-related and expected, carrying limited market impact.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Brown Adriane M

(Last) (First) (Middle)

C/O EBAY INC. 2025 HAMILTON AVE.

(Street)

SAN JOSE CA 95125

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
EBAY INC [ EBAY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/20/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/20/2025		M		4,644	A	$0	39,958	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units -5	(1)	06/20/2025		M			4,644	(2)	(3)	Common Stock	4,644	$0	0	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.

2. In connection with the reporting person's service as a non-employee director of the Issuer, such reporting person has been granted restricted stock units. The number of restricted stock units granted represents the quotient of (A) $250,000 divided by (B) the Issuer's closing stock price on the date of grant, rounded up to the nearest whole restricted stock unit. 100% of the restricted stock units vest on the earlier of: (i) the one-year anniversary of the date of grant or (ii) the date of the Issuer's first annual meeting of stockholders that occurs after the date of grant, provided that the reporting person continues to provide service to the Issuer through such date.

3. Not Applicable.

	By: Greg Kerber For: Adriane Brown	06/24/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

How many EBAY shares did Adriane Brown acquire on 06/20/2025?

She acquired 4,644 shares of EBAY common stock through RSU conversion.

What is Adriane Brown’s total beneficial ownership after the transaction?

Her direct ownership stands at 39,958 shares following the reported transaction.

What does transaction code "M" signify in EBAY’s Form 4?

Code M indicates the conversion or exercise of a derivative security, in this case restricted stock units, into common shares.

When do the restricted stock units granted to Adriane Brown vest?

The RSUs vest 100% on the earlier of the one-year anniversary of the grant or the next annual shareholder meeting, conditional on continued service.

Was there any sale of EBAY shares reported in this Form 4?

No. The filing reports only the acquisition of shares via RSU conversion; no shares were sold.