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