AMD EVP Forrest Norrod Exercises Options, Sells Shares

What Happened Forrest Norrod, EVP & GM of AMD's Data Center and Embedded Solutions Group (DSG), exercised 7,261 stock options on Aug 24, 2026 (strike $84.85; cost ~$616,096) and conducted a series of open-market sales the same day. The sales totaled 17,261 shares across multiple trades and generated approximately $7.94 million in gross proceeds (sale prices ranged roughly from $452.85 to $468.14 per share, reported as weighted averages for grouped trades).

The activity is largely routine: options were exercised (M code) and shares were sold (S code). The filing shows the derivative conversion/termination entry (7,261 shares at $0.00), which reflects the option-to-share conversion rather than a cash sale of that derivative instrument.

Key Details

• Transaction date: August 24, 2026; Form 4 filed August 26, 2026 (filed within the typical 2-business-day window).
• Options exercised: 7,261 shares @ $84.85 = $616,096.
• Open-market sales: 17,261 shares across multiple trades; total proceeds ≈ $7,939,160.
• Reported sale price range (per footnotes): approximately $452.85 to $468.14 per share (individual grouped trades have narrower ranges; weighted averages are listed on the Form 4).
• Footnotes: Sales and option exercises were effected pursuant to a Rule 10b5-1 trading plan adopted May 20, 2026. Vesting schedule for the options: 1/3 vested Aug 9 of 2021, 2022 and 2023.
• Shares owned after transaction: not specified in the provided filing excerpt.

Context

• This was a cash exercise of options followed by open-market sales (a common cashless or partial cashless pattern). The separate derivative disposal entry at $0.00 represents conversion/termination of the option instrument rather than a cash sale.
• Trades were executed under a pre-established 10b5-1 plan, which generally indicates pre-planned selling rather than ad-hoc market-timing by the insider.