Yahoo Chairman and Ex-CEO Terry Semel exercised options for 750,000 shares of Yahoo stock and then sold them for $29 to $30 a share according to a filing by the Securities and Exchange Commission and CNNMoney’s Thomson Financial.
Semel exercised options on the 750,000 shares for $15 a piece, then sold them for the final $29 price, essentially earning $10 million on the deal.
Yahoo stocks surged this week after earnings reports and the announcement of an integrated display advertising deal with many online publishers including WebMD.
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