American Express Co. Chairman and Chief Executive Officer Kenneth I. Chenault netted $15.4 million before taxes from the exercise of stock options and the sale of restricted shares.

Chenault, 61, disposed of 519,137 shares on Feb. 8 at an average of $61.85 apiece after exercising an option to buy the shares for $43.98 each, for proceeds of $7.69 million, according to a regulatory filing Feb. 11 from the New York-based company. He reaped $7.7 million from additional share sales, the filing shows. The CEO still owns 914,642 common shares, compared with about 1 million before the transactions.

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