Departing Aetna CEO cashes out stock options for $50.3 million profit
NEWS IN BRIEF — Posted Nov. 22, 2010
Ronald Williams, who is retiring on Nov. 29 as chair and chief executive officer of Aetna, has cashed in millions of dollars in stock options on his way out the door.
In transactions reported to the Securities and Exchange Commission on Nov. 9, Williams exercised 2.4 million stock options and sold the shares at a profit of about $50.3 million.
According to the filing, he bought the shares at $9.35, $10.75 and $12.15 and sold half for an average price of $30.97 on Nov. 5, and half for an average price of $31.12 on Nov. 8.
Williams, 60, is set to remain at the company as executive chair and then as a consultant through February 2012. Aetna President Mark Bertolini will take over as CEO and is expected to be elected as chair upon Williams' departure.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2010/11/22/bibf1122.htm.