The CEO and president of Raleigh, North Carolina-based Red Hat Inc. has sold $709,000 worth of stock in the software company.

James Whitehurst sold 3,146 shares at a price of $125.60 and another 2,513 shares at a price of $125.03, according to a Form 4 filed with the Securities and Exchange Commission on Oct. 18.

Whitehurst now directly owns 359,114 shares of the company worth approximately $45.1 million.

Whitehurst attended Rice University and Harvard Business School and has been president and CEO of Red Hat since 2008.

He is the former chief operating officer of Delta Air Lines Inc. He received $13.6 million in compensation in the 2018 fiscal year.

Red Hat provides software for operating systems, cloud storage and other computer functions. It provides service to 90 percent of Fortune 500 companies.

Red Hat shares closed at $121.85 on Thursday, down $2.99 from close on Wednesday.

The filing can be found here.