By  on June 29, 2011

Michael J. Kowalski, Tiffany & Co.’s chairman and chief executive officer, has been taking advantage of the luxe jeweler’s stock rebound and pulled in $22.2 million this year, before taxes, by exercising options and then selling the shares.

The 640,000-share stake was sold off in seven pairs of transactions since Feb. 1. On Monday, for instance, the ceo exercised his option to buy 115,000 shares for $31.49 each and then sold the same number of shares for $75.88 apiece, according to a filing with the Securities and Exchange Commission.

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