The chief financial officer of VF Corp. profited more than $1.5 million by exercising a stock option and selling the stock at the market price, according to a filing Wednesday with the Securities and Exvf corpchange Commission.

Scott Roe exercised his option to purchase 29,544 shares at a price of $40.49 per share on Aug. 22, spending $1,196,237. He then sold all 29,544 shares at an average price of $92.78 per share.

The profit was $1.54 million. Scott does not have another option to purchase shares at the $40.49 price.

VF Corp. shares closed Wednesday at $91.70, down $0.63, or 0.68 percent.

Scott has been the chief financial officer and vice president of VF Corp. since April 2015 and February 2013, respectively. Before that, he served as controller of VF Corp. as well as its chief accounting officer from February 2013 to March 2015.

VF Corp. is an apparel and footwear company that went public in 1978. During recent years, the company has been revamping its business by selling off brands and acquiring new ones.

In April, VF Corp. sold its Nautica brand. Earlier this month, the company announced its plans to split its jeans business into a separate company and move the headquarters of the company’s outdoor apparel business to Denver.

VF Corp. currently has more than 30 brands, including powerful brands like Vans, The North Face, Dickies, Timberland and Jansport.