Yahoo's Ex-CEO Terri Semel Sells 750,000 Shares

CNNMoney is reporting that Terri Semel, Yahoo's Chairmen and Ex-CEO has exercised 750,000 options and disposed of them in the open market. He exercised options for $15 each and then sold those options for $29 to $29.90 each between 10/19/2007 and 10/22/2007. Some of the sales were same day transaction.

Terri has been rewarded handsomely for his mismanagement of Yahoo. The $15 strike price for the options was considered lofty when it was awarded to him. Yahoo's prospects seemed pretty bleak at the time of the option grants. But today he is benefiting nicely from the bounce in the stock price which materialized as a result of this departure.

Terri was well known for not knowing what email was prior to joining Yahoo. He was baffled when people would send eachother email when they could simply make a phone call or walk over to their desks. Terri also hired many old world cronies who were clueless about the internet business, gave them executive positions and loaded them up with stock options. "He surrounded himself with people who knew absolutely nothing about the internet business", said a source.

Date       Insider Shares   Transaction Type                      Value*
24-Oct-07  SEMEL TERRY
           350,000 Director Option Exercise at $15 per share.    $5,250,000
24-Oct-07  SEMEL TERRY
           350,000 Director Sale at $30.52 - $30.63 per share.  $10,701,000
23-Oct-07  SEMEL TERRY
           500,000 Director Option Exercise at $15 per share.    $7,500,000
23-Oct-07  SEMEL TERRY
           500,000 Director Sale at $30.19 - $30.69 per share.  $15,220,000
22-Oct-07  SEMEL TERRY
           250,000 Director Option Exercise at $15 per share.    $3,750,000
22-Oct-07  SEMEL TERRY
           250,000 Director Sale at $29.71 - $29.9 per share.    $7,451,000
19-Oct-07  SEMEL TERRY
           500,000 Director Option Exercise at $15 per share.    $7,500,000
19-Oct-07  SEMEL TERRY
           500,000 Director Sale at $29 - $29.27 per share.     $14,567,000