The calls came as WorldCom stock plummeted in 2000.
Directors had the option of receiving their compensation in WorldCom stock.
He uses his remaining available cash to buy more WorldCom stock.
While he did buy some WorldCom stock in the open market, those purchases took place years ago at prices not far from the current ones.
Ebbers had become very wealthy from the rising price of his holdings in WorldCom common stock.
The remaining $1.19 billion will go to investors who bought WorldCom stock and its other publicly traded securities.
Holders of WorldCom stock, however, will receive nothing.
His money was tied up in WorldCom stock, which in keeping with the fashion of the decade paid no dividends.
He offered $30 billion in WorldCom stock and the assumption of $5 billion in debt.
Some 83 percent of the client's brokerage account was in WorldCom stock.