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
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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).
1. Name and Address of Reporting Person*
SEMEL TERRY
(Last) (First) (Middle)
C/O YAHOO! INC.
701 FIRST AVENUE
(Street)
SUNNYVALE CA 94089
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
YAHOO INC [ YHOO ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Chairman & CEO
3. Date of Earliest Transaction (Month/Day/Year)
07/13/2004
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 07/13/2004 M 100,000 A $8.23 1,701,230 D
Common Stock 07/13/2004 M 500,000 A $6.46 2,201,230 D
Common Stock 07/13/2004 M 125,000 A $4.62 2,326,230 D
Common Stock 07/13/2004 M 907,500 A $8.81 3,233,730 D
Common Stock 07/13/2004 S 25,000 D $30.01 3,208,730 D
Common Stock 07/13/2004 S 12,500 D $30.03 3,196,230 D
Common Stock 07/13/2004 S 25,000 D $30.04 3,171,230 D
Common Stock 07/13/2004 S 25,000 D $30.05 3,146,230 D
Common Stock 07/13/2004 S 12,500 D $30.06 3,133,730 D
Common Stock 07/13/2004 S 15,000 D $30.09 3,118,730 D
Common Stock 07/13/2004 S 25,000 D $30.11 3,093,730 D
Common Stock 07/13/2004 S 60,000 D $30.12 3,033,730 D
Common Stock 07/13/2004 S 12,500 D $30.13 3,021,230 D
Common Stock 07/13/2004 S 37,500 D $30.14 2,983,730 D
Common Stock 07/13/2004 S 100,000 D $30.15 2,883,730 D
Common Stock 07/13/2004 S 25,000 D $30.16 2,858,730 D
Common Stock 07/13/2004 S 137,500 D $30.3 2,721,230 D
Common Stock 07/13/2004 S 100,000 D $30.31 2,621,230 D
Common Stock 07/13/2004 S 75,000 D $30.33 2,546,230 D
Common Stock 07/13/2004 S 50,000 D $30.34 2,496,230 D
Common Stock 07/13/2004 S 125,000 D $30.35 2,371,230 D
Common Stock 07/13/2004 S 50,000 D $30.37 2,321,230 D
Common Stock 07/13/2004 S 107,500 D $30.4 2,213,730(1)(6) 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
Employee Stock Option ( right to buy ) $8.23 07/13/2004 M 100,000 (2) 12/11/2012 Common Stock 100,000 $0 966,668(1) D
Employee Stock Option ( right to buy ) $6.46 07/13/2004 M 500,000 (3) 07/11/2012 Common Stock 500,000 $0 0 D
Employee Stock Option ( right to buy ) $4.62 07/13/2004 M 125,000 (4) 10/02/2011 Common Stock 125,000 $0 625,000 D
Employee Stock Option ( right to buy ) $8.81 07/13/2004 M 907,500 (5) 04/16/2011 Common Stock 907,500 $0 8,249,432 D
Explanation of Responses:
1. All figures shown reflect the 2 for 1 stock split that was effective on May 11, 2004.
2. This option becomes exercisable at a rate of 1/48th of the securities underlying the option on each monthly anniversary of the vesting commencement date of 12/11/02 such that the option will be fully vested on 12/11/06.
3. This option becomes exercisable at a rate of 1/24th of the securities underlying the option on each monthly anniversary of the vesting commencement date of 7/11/02 such that the option was fully vested on 7/11/04.
4. This option becomes exercisable at a rate of 1/8th of the securities underlying the option on 4/16/02 and thereafter at a rate of 1/48th of the securities underlying the option on each monthly anniversary of the vesting commencement date such that the option will be fully vested on 10/2/05.
5. This option becomes exercisable at a rate of 1/2 of the securities underlying the option on the first anniversary of the vesting commencement date of 4/16/01 and 1/24th of the securities underlying the option on each monthly anniversary thereafter, such that the option was fully vested on 4/16/03.
6. Does not include 760 shares owned indirectly by wife for children under the Uniform Transfer to Minors Act.
/s/ Michael J. Callahan, attorney-in-fact for,Terry S. Semel 07/14/2004
** 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.
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