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Priceline.com chairman and CEO Richard S. Braddock announced on Friday that he has cancelled plans to sell shares of priceline.com stock over the next 12 months and has elected instead to purchase 750,000 additional shares through the exercise of stock options.
Braddock said he intends to exercise the options and hold the shares.
In August 2001, Braddock had announced plans to establish a 12-month stock sale plan for estate planning purposes. Those plans are now cancelled. Braddock is an unsalaried priceline.com employee.
"I am confident that priceline.com is ready and able to weather the current slowdown in travel, and will emerge a winner in the e-commerce space over the long run," said Braddock. "I am pleased to make this further commitment in support of priceline.com, our employees and our shareholders."