The Chief Technology Officer of Advanced Micro Devices (NASDAQ: AMD), Mark Papermaster, has divested over $3 million worth of company stock.
Mark D. Papermaster, the CTO and Executive Vice President of Advanced Micro Devices (NASDAQ: AMD), has executed a substantial sell-off of company shares. The transactions, which took place on March 15, 2024, saw Papermaster offloading AMD common stock valued at over $3 million.
The sales were carried out through various trades within a price range of $184.79 to $187.88 per share. The total proceeds from these trades amounted to about $3,025,082. These sales were pre-planned under a Rule 10b5-1 trading plan established on November 15, 2023, as indicated in footnotes in the SEC filing.
Moreover, Papermaster exercised options to purchase 16,200 (16.20K) shares of AMD common stock at a set price of $12.83 per share, amounting to $207,846. These options were part of a compensation package, vesting over three years from August 9, 2018.
After these transactions, Papermaster’s direct ownership of AMD common stock totals 1,554,602 (1.55 million) shares. The SEC filing delineates a comprehensive record of these transactions, highlighting the customary practice of corporate executives engaging in such trades. These executives frequently employ pre-established trading plans to manage their stock holdings.
AMD investors and followers will likely monitor insider transactions closely. These transactions can offer insights into executives’ perceptions of the company’s valuation and prospects.
Advanced Micro Devices (NASDAQ: AMD) Stock Performance
AMD stock rose 1.79% in the pre-market trading on Thursday after closing the regular trade at $179.73 on Wednesday. The traders had exchanged hands with 80,585,945 (80.58 million) shares compared to the average daily trading volume of 76.23 million.
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