AMD Insider Activity: Papermaster Exercises Options and Reports Grants on 08/15/2025
Rhea-AI Filing Summary
Mark Papermaster, Chief Technology Officer and EVP of Advanced Micro Devices, reported multiple insider transactions dated 08/15/2025 executed pursuant to a Rule 10b5-1 trading plan. The filings show exercise of 16,800 stock options at a $34.19 strike, sales of 8,695, 7,096 and 1,009 shares at weighted average prices of $177.65, $178.43 and $179.82 respectively, and an additional sale of 16,557 shares at $177.51.
The report also discloses grants and settlements: a grant of 32,383 shares (code G), acquisition/settlement of 42,075 performance-based shares, a stock option grant covering 24,852 options at a $177.51 exercise price, 36,674 PRSUs and 12,224 RSUs. Transaction footnotes describe vesting schedules and performance conditions; no forward-looking or financial performance data is included in the filing.
Positive
- Transactions executed under a Rule 10b5-1 plan (adopted November 5, 2024), indicating pre-established, rule-compliant trading
- Exercise of options at $34.19 for 16,800 shares, reflecting exercise at a substantially lower strike than sale prices disclosed
- Large long-term incentive awards granted or settled: 42,075 performance-settled shares, 36,674 PRSUs and 12,224 RSUs with multi-year vesting
Negative
- Substantial open-market sales reported: 8,695, 7,096 and 1,009 shares sold at weighted averages near $178 and an additional 16,557 shares sold at $177.51
- Net disposition activity reduces immediate beneficial ownership on certain lines (e.g., ownership figures decline in report rows), reflecting insider monetization
Insights
TL;DR: Significant option exercise and structured sales under a 10b5-1 plan with concurrent equity grants and performance awards.
The filing shows Papermaster exercised 16,800 options at a low strike ($34.19) and executed multiple sales totaling ~33,357 shares at weighted average prices near $178, partially offset by equity grants and settlements totaling >90,000 award units/options across PRSUs, RSUs and option grants. The mix of exercises, planned sales and new long-term awards indicates routine compensation monetization combined with retention-focused grant activity. Material investor metrics (revenue, EPS) are not present in this Form 4.
TL;DR: Transactions were executed under a pre-established 10b5-1 plan and include customary performance-based awards with multi-year vesting.
The report explicitly states the sales and option exercises were effected pursuant to a Rule 10b5-1 trading plan adopted November 5, 2024, which provides affirmative defense for scheduled trades. Grants include PRSUs subject to performance metrics and multi-year vesting, and RSUs with quarterly vesting through 2029. From a governance perspective, the package mixes short-term liquidity events with long-term incentive alignment through performance and service-based vesting conditions.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option Grant | 16,800 | $0.00 | -- |
| Exercise | Performance Stock Units | 42,075 | $0.00 | -- |
| Grant/Award | Stock Option Grant | 24,852 | $0.00 | -- |
| Grant/Award | PRSU Award | 36,674 | $0.00 | -- |
| Grant/Award | RSU Award | 12,224 | $0.00 | -- |
| Exercise | Common Stock | 16,800 | $34.19 | $574K |
| Sale | Common Stock | 8,695 | $177.65 | $1.54M |
| Sale | Common Stock | 7,096 | $178.43 | $1.27M |
| Sale | Common Stock | 1,009 | $179.82 | $181K |
| Gift | Common Stock | 32,383 | $0.00 | -- |
| Exercise | Common Stock | 42,075 | $0.00 | -- |
| Tax Withholding | Common Stock | 16,557 | $177.51 | $2.94M |
Footnotes (1)
- The stock option exercises reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 5, 2024. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 5, 2024. Transaction executed in multiple trades at prices ranging from $177.03 to $178.02 per share, inclusive. The price reported in column 4 above reflects the weighted average sale price per share. The Reporting Person hereby undertakes to provide the SEC staff, the Issuer or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote. Transaction executed in multiple trades at prices ranging from $178.03 to $178.90 per share, inclusive. The price reported in column 4 above reflects the weighted average sale price per share. The Reporting Person hereby undertakes to provide the SEC staff, the Issuer or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote. Transaction executed in multiple trades at prices ranging from $179.22 to $179.92 per share, inclusive. The price reported in column 4 above reflects the weighted average sale price per share. The Reporting Person hereby undertakes to provide the SEC staff, the Issuer or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote. The options vest 1/3 on each of August 9, 2020, 2021 and 2022. Each performance-based restricted stock unit ("PRSU") represents a contingent right to receive one share of AMD's common stock. Reflects shares issued in settlement of PRSUs earned and vested under PRSU award granted on August 9, 2022. The options vest 1/4 on August 15, 2026 and then quarterly thereafter until August 15, 2029. Between 0% and 250% of the target number of PRSUs may be earned depending on (a) the return on AMD's stock price relative to the return of each of the component companies comprising the S&P 500 Index, subject to adjustments, over the performance period that begins August 15, 2025 and ends on August 15, 2028, (b) the absolute return on AMD's stock price over the performance period, and (c) the percentage (if any) by which AMD's 2027 fiscal year non-GAAP earnings per share exceeds AMDs 2025 fiscal year non-GAAP earnings per share. Vesting of any earned PRSUs is generally subject to the Reporting Person's continued employment and/or service with AMD through August 15, 2028 (or the one-year anniversary of a change in control, if earlier). The actual number of PRSUs that may be earned, if at all, will be determined by the Compensation and Leadership Resources Committee (the "Committee") based on AMD's actual performance with respect to the performance vesting conditions described in footnote 10, above. Earned and vested PRSUs will generally be settled on the later of August 15, 2028, or the date following the Committee's determination of performance. Each restricted stock unit ("RSU") represents a contingent right to receive one share of AMD's common stock. The RSUs vest 1/4 on August 15, 2026, and then quarterly thereafter until August 15, 2029.
