Yahoo!'s Insiders Unload Shares
Three of
Yahoo!'s
(YHOO)
top insiders recently unloaded $56 million worth of shares, the company revealed Monday in filings with the
Securities and Exchange Commission
.
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Yahoo! CEO Terry Semel exercised some 543,000 options at the cost of $4.6 million and sold the same number of shares for a total sale of $18.6 million.
The most recent sale brought the total amount of Yahoo! stock that Semel has sold in 2005 to $138 million. In February, Semel bought 250,000 shares in a nonopen market acquisition valued at "$0 a share."
Also on Monday, the company said David Filo, a Yahoo! founder and current holder of the title of Chief Yahoo!, sold 500,000 shares at $34.27, or $17,135,000 worth of stock. Filo also made a gift of another 500,000 shares.
In a separate filing, Yahoo! said Filo plans to sell as many as 2 million shares of Yahoo! common stock in accordance with a prearranged trading schedule during a one-year period beginning this October.
Chief Technology Officer Farzad Nazem sold 100,000 shares worth $3.4 million.
Earlier this month, Chief Operating Officer Daniel Rosensweig filed to sell 228,000 shares with an estimated value of $6 million.
Yahoo!'s stock closed down 2.4% Monday at $33.20. So far in 2005, the stock has fallen 12%.
