The chief executive officer of Winston-Salem, North Carolina-based Reynolds American Inc. has sold $3 million worth in company stock.

Debra Ann Crew sold 31,536 shares at a price of $61.39 and another 17,393 shares at a price of $61.20, according to a Form 4 filed with the Securities and Exchange Commission.

Crew, the former president and general manager of PepsiCo North America Nutrition, now directly owns 59,228 shares worth more than $3.5 million.

Reynolds America is the parent company of R.J. Reynolds Tobacco Company, Santa Fe Natural Tobacco Co. and Lane Limited.

In January, British American Tobacco agreed to purchase the 57 percent stake in Reynolds American that it doesn’t already own for $49 billion.

Current shareholders of Reynolds American will each receive about $24 in cash for each share they own, as well depository shares of BAT stock, representing roughly half of a regular share of BAT. In total, the former Reynolds’ shareholders will hold 19 percent of BAT.

Reynolds America shares rose 17 cents to $60.61 in midday Thursday trading.

The filing can be found here.