Terry Semel exercised his options and sold off 750,000 shares of Yahoo's stock for $20 Million at $29 to $29.90 apiece, according to a Securities and Exchange Commission filing Tuesday, informs CNN Money.
“In a Form 4 filed with the SEC, Terry Semel reported he exercised options for $15 apiece and then sold all the shares the same day for $29 to $29.90 apiece. Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.â€
Of late, Yahoo's share price has increased after the announcement of Yahoo's earnings report was positive.
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