Yahoo execs cash in on stock price rebound
San Francisco - As the stock price of Yahoo rebounds from the dot-com crash lows, executives at the company are raking in millions of dollars in profit.
Yahoo chairman Terry Semel has some extra cash in his pocket after he raked in $21 million USD profit from exercising 1 million Yahoo stock options. The options, usually given as incentives to executives, enabled him to buy the shares at $8.81 and then turn around and sell them for market price of $29.85 to $30.05.
Semel has made an additional $129 million as Yahoo stock rebounds to above $30 a share, gaining 35 percent this year.
A former Hollywood movie studio boss, Semel rejuvenated Yahoo by streamlining its operations, creating more subscription services and positioning the company’s Web site as an online advertising hub. He also pulled off several major acquisitions that have boosted the company’s profit.
Yahoo’s co-founder Jerry Yang will be selling 8 million shares for $244 million.
Link to Yahoo News article
- CheckPoint driven through by gung-ho security flaw
- Dell, HP show new Notebooks
- TDK, Fujitsu team up on hard drives
- Real shoots back at Apple, reaffirms commitment to Harmony
- The world's first RFID hacking tool released at Black Hat
- Churches pass the popcorn along with the collection plate
- Microsoft feels heat over outsourcing
- Apple probes RealNetworks concerning iPod
- Dell releases new Linux workstations
- Dell and Asustek to launch AV notebooks to compete with Toshiba
- DSC brands DigiLife and Digimaster to offer PMPs
- Sources: TFT LCD sales to drop 7-26% in July
- Memory chip sales soar
- Ballmer upbeat on Microsoft's prospects
- Microsoft to issue browser patch next week
- The plain unvarnished Intel Lindenhurst story
- 2004 has become the year of the computer virus
- 64-bit WinXP set-back forced Intel to delay 4GHz P4?
