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Tech Industry

Semel gets $2.4 million windfall

Terry Semel just got $2.4 million richer. Yahoo's CEO last week sold 63,200 stock options, priced at $9.24, for $48 a share, according to regulatory filings with the Securities and Exchange Commission. The sale was a fraction of Semel's remaining vested and unvested stock options, which total about 12.7 million shares.

Since taking the helm in May 2001, Semel has overseen a dramatic rise in Yahoo's stock price. Semel joined Yahoo when the share price was below $18, since when it has risen as high as $50. Much of this growth stems from nearly two years of consecutive quarterly profits at the Web portal.