Terry Semel exercised his options and sold off 750,000 shares of Yahoo's stock for $20 Million at $29 to $29.90 apiece, according to a Securities and Exchange Commission filing Tuesday, informs CNN Money.

“In a Form 4 filed with the SEC, Terry Semel reported he exercised options for $15 apiece and then sold all the shares the same day for $29 to $29.90 apiece. Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.”

Of late, Yahoo's share price has increased after the announcement of Yahoo's earnings report was positive.

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