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

In a Form 4 filed with the SEC, Robert C. Henrikson reported exercising the options on Wednesday for $29.95 apiece and selling the same number of shares that day for $60.55 apiece.

The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes 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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