Papermaster Mark D 4

What Happened
Mark D. Papermaster, Chief Technology Officer & EVP of Advanced Micro Devices (AMD), exercised stock options and sold shares on June 15, 2026. The filing shows an exercise of 6,000 options at $84.85 per share (total cost $509,100) and an open-market sale of 6,000 common shares at $536.33 per share (gross proceeds $3,217,980). The report also records a separate derivative disposition of 6,000 shares at $0.00, which is reported alongside the exercise.

Key Details

• Transaction date: 2026-06-15; Form filed: 2026-06-17 (timely).
• Exercise: 6,000 shares @ $84.85 = $509,100 (code M — option exercise).
• Sale: 6,000 shares @ $536.33 = $3,217,980 (code S — open market sale).
• Additional entry: 6,000 derivative shares reported disposed @ $0.00 (code M) — filing records this as part of the exercise/settlement.
• Footnotes: Exercises and sales were executed pursuant to Rule 10b5-1 trading plans adopted Nov 14, 2025 (F1, F2). Vesting schedule noted: options vested 1/3 on Aug 9 of 2021, 2022 and 2023 (F3).
• Shares owned after the transactions: not specified in the provided filing details.

Context
The sequence (exercise + immediate sale plus a $0.00 derivative disposition) is consistent with a cashless/net settlement of options where exercised shares are used to cover exercise cost and/or tax withholding while remaining shares are sold. The transactions were conducted under pre-established 10b5-1 plans, which are commonly used to automate insider trades and reduce allegations of trading on material nonpublic information. These are sales (liquidity events) rather than purchases, and do not by themselves indicate the insider’s longer-term view of the company.