President and CEO Nigel Travis sold Dunkin' Brands Group Inc. (Nasdaq: DNKN) shares for $3.98 million, according to an SEC filing.

Travis, who has led the parent company of Dunkin' Donuts and Baskin-Robbins since 2009, sold 125,870 shares at $31.63 apiece. The sale came upon exercise of options to buy the shares at $3.02 per share. Travis made a net gain of $3.60 million from the transaction. He still owns 124,377 shares worth $3.85 million, based on the stock’s closing price of $30.97 per share on Nov. 7.

Prior to joining Dunkin’ Brands, Travis was president and COO of Blockbuster Inc. He previously headed Papa John's International Inc., besides holding senior positions at Burger King.

With more than 16,800 points of distribution in nearly 60 countries worldwide, Dunkin' Brands is one of the world's leading franchisors of quick service restaurants serving hot and cold coffee and baked goods, as well as hard-serve ice cream. At the end of 2011, Dunkin' Brands' nearly 100 percent franchised business model included more than 10,000 Dunkin' Donuts restaurants and more than 6,700 Baskin-Robbins restaurants. For the full-year 2011, the company had franchisee-reported sales of approximately $8.3 billion.

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