Yahoo CEO Exercises Options, Sells Shares

Yahoo Inc. Chief Executive Terry Semel exercised options to buy 2 million shares of his company Tuesday and Wednesday, then immediately sold all of the stock for a profit of more than $42.8 million, regulatory filings showed.

Semel, 61, bought the stock at prices ranging from $4.62 to $8.81 a share, according to filings with the Securities and Exchange Commission. He sold at prices ranging from $30.01 to $30.75, the filings showed.

Yahoo spokeswoman Joanna Stevens said the sale was part of Semel’s “standard portfolio management and diversification.”

Semel held more than 20 million Yahoo options early in spring, filings showed.

Yahoo shares fell 41 cents to $30.25 on Nasdaq.