NEW YORK (AP) -- The chairman and chief executive of insurer MetLife Inc. exercised options for 3,100 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing.

In a Form 4 filed Friday with the SEC, C. Robert Henrikson reported he exercised the options Wednesday for $29.95 apiece and then sold all 3,100 shares on the same day for $58.98 apiece.

The stock sale was conducted under a prearranged 10b5-1 trading plan, which allows company insiders to set up a program in advance for such transactions and proceed even if they come into possession of material nonpublic information.

Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.

MetLife is based in New York.

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