0001251144-04-000003 4 1 20040227 20040302 ESPEED INC 0001094831 7389 134063515 DE 1231 135 E. 57TH STREET 135 E. 57TH STREET NEW YORK NY 10022 2129385000 135 E. 57TH STREET 135 E. 57TH STREET NEW YORK NY 10022 MERKEL STEPHEN M 0001251144 4 34 000-28191 04643203 135 EAST 57TH ST NEW YORK NY 10022 4 1 primary_doc.xml PRIMARY DOCUMENT FORM 4 OMB APPROVAL [ ] Check this OMB Number: box if no longer UNITED STATES SECURITIES AND EXCHANGE COMMISSION 3235-0287 subject to Washington, D.C. 20549 Estimated Section 16. Form STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF average burden 4 or Form 5 SECURITIES hours per obligations may response... 0.5 continue. See Instruction 1(b). Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 1. Name and Address of Reporting 2. Issuer Name and Ticker 5. Relationship of Person * or Trading Symbol Reporting Person(s) to MERKEL STEPHEN M ESPEED INC [ ESPD ] Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title (Last) (First) (Middle) 3. Date of Earliest below) _____ Other C/O ESPEED, INC., 135 EAST 57TH Transaction (MM/DD/YYYY) (specify below) STREET 2/27/2004 EVP,General Counsel&Secretary (Street) 4. If Amendment, Date 6. Individual or NEW YORK, NY 10022 Original Filed Joint/Group Filing (Check (City) (State) (Zip) (MM/DD/YYYY) 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 2. Trans. Date 2A. 3. Trans. 4. Securities 5. Amount of 6. Ownership 7. Nature of (Instr. 3) Deemed Code Acquired (A) or Securities Form: Direct Indirect Execution (Instr. 8) Disposed of (D) Beneficially (D) or Indirect Beneficial Date, if (Instr. 3, 4 and Owned Following (I) (Instr. 4) Ownership any 5) Reported (Instr. 4) Transaction(s) (A) (Instr. 3 and or 4) Code V Amount (D) Price Class A Common Stock, par value 2/27/2004 M 10000 A $5.1 25017 D $0.01 per share Class A Common Stock, par value 2/27/2004 S 3000 D $20.5 22017 D $0.01 per share Class A Common Stock, par value 2/27/2004 S 2000 D $20.13 20017 D $0.01 per share Class A Common Stock, par value 2/27/2004 S 950 D $20.25 19067 D $0.01 per share Class A Common Stock, par value 2/27/2004 S 1050 D $20.18 18017 D $0.01 per share Class A Common Stock, par value 2/27/2004 S 1000 D $20.29 17017 D $0.01 per share Class A Common Stock, par value 2/27/2004 S 1200 D $20.27 15817 D $0.01 per share Class A Common Stock, par value 2/27/2004 S 800 D $20.1 15017 D $0.01 per share Class A Common By 401(k) Stock, par value 1284 I Plan (1) $0.01 per share Class A Common Stock, par value 2250 I By spouse $0.01 per share Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) 1. Title of 2. 3. Trans. Date 3A. 4. Trans. 5. Number of 6. Date Exercisable 7. Title and Amount 8. Price 9. Number of 10. 11. Nature Derivate Conversion Deemed Code Derivative and Expiration Date of Securities of derivative Ownership of Security or Execution (Instr. 8) Securities Underlying Derivative Derivative Securities Form of Indirect (Instr. 3) Exercise Date, if Acquired (A) or Security Security Beneficially Derivative Beneficial Price of any Disposed of (D) (Instr. 3 and 4) (Instr. 5) Owned Security: Ownership Derivative (Instr. 3, 4 and Following Direct (D) (Instr. 4) Security 5) Reported or Transaction(s) Indirect Date Expiration Amount or (Instr. 4) (I) Exercisable Date Title Number of (Instr. 4) Code V (A) (D) Shares Option to Class A purchase Class Common A Common Stock, $5.1 2/27/2004 M 10000 (2) (3) Stock, par 10000 $0 (4) 110000 D par value value $0.01 $0.01 Explanation of Responses: (1) Based on a plan statement as of September 30, 2003. (2) These options generally vest ratably on a quarterly basis over a four-year period beginning on the date of the grant, October 19,2001. (3) These options expire on October 19, 2011, sublect to accelerated expiration under certain circumstances. (4) These options were granted pursuant to eSpeed Inc.'s 1999 Long-Term Incentive Plan. Reporting Owners Reporting Owner Name / Relationships Address Director 10% Owner Officer Other MERKEL STEPHEN M C/O ESPEED, INC. X EVP,General Counsel&Secretary 135 EAST 57TH STREET NEW YORK, NY 10022 Signatures Stephen M. Merkel 3/1/2004 ** 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. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.