Stan O'Neal, chairman and chief executive of Merrill Lynch, has exercised 199,650 stock options to sell about $18.8m (€14.4m) in stock.

According to a filing Wednesday with the Securities and Exchange Commission, the shares sold by O'Neal were valued at $43.78. SEC filings stated O'Neal last sold Merrill Lynch shares last February, when he exercised options to sell 146,438 shares.

Jennifer McCandless in New York

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Merrill's O'Neal sells $18.8m in stock

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