TECHNOLOGY / MORE ON TECH : Webvan CEO Gets Hefty Stock Plan

Webvan Group Inc.’s new chief executive, George Shaheen, who left Andersen Consulting to lead the online grocer, got stock and options that could be worth more than $90 million when Webvan completes a planned initial stock sale. Shaheen got 1.25 million shares of stock and options to buy an additional 15 million shares for $8 apiece, according to Webvan’s filing with the Securities and Exchange Commission. Shaheen’s employment agreement calls for a $500,000 base salary and a target bonus of $250,000. Shaheen also got a $6.7-million loan at an annual interest rate of 6.2%, the Foster City, Calif.-based company said. Webvan plans to sell 25 million shares at $11 to $13 apiece in its IPO.