Form 4: AMD CEO Lisa Su Sells Shares Under Pre-Arranged Plan

Advanced Micro Devices CEO Lisa Su sold 125,000 shares of common stock on February 11, 2026, as part of a pre-established Rule 10b5-1 trading plan.

Summary

• Lisa T. Su, AMD's Chair, President & CEO, sold a total of 125,000 shares of AMD common stock on February 11, 2026.
• The sales were executed in multiple transactions at weighted average prices ranging from $210.18 to $219.18 per share.
• These transactions were conducted under a Rule 10b5-1 trading plan, which was adopted by Ms. Su on September 9, 2025.
• Following these sales, Ms. Su directly beneficially owns 3,152,476 shares of common stock.
• Additionally, Ms. Su holds indirect beneficial ownership of 825,068 shares through various trusts and family member shareholdings, including the Lisa Su and Daniel Lin Family Trust, Grantor Retained Annuity Trust 2021B, Grantor Retained Annuity Trust 2021C, Grantor Retained Annuity Trust LTS 2022 GRAT B, Grantor Retained Annuity Trust 2025 GRAT A, and Grantor Retained Annuity Trust 2025 GRAT B.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral event. While it's an insider sale, the execution under a pre-arranged 10b5-1 plan mitigates concerns about trading on non-public information, making it a routine personal financial management activity.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned liquidity event rather than a reaction to new, non-public information.

Negatives

• A reduction in direct beneficial ownership by a key executive, even if planned, could be perceived negatively by some investors as it slightly decreases management's direct alignment with shareholder interests.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 9, 2025.
• 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.

Industry Context

StockSavvy.ai notes that insider sales under a Rule 10b5-1 plan are a common practice among executives for personal financial planning, allowing them to diversify holdings and manage liquidity without concerns of trading on material non-public information. This transaction is typical for a high-ranking executive in the semiconductor industry, where compensation often includes substantial equity.

Comparison to Industry Standards

• The sale of 125,000 shares by a CEO of a major semiconductor company like AMD, while significant in absolute terms, represents a small fraction of Lisa Su's total beneficial ownership (over 3.9 million shares).
• Compared to other tech CEOs, such as Satya Nadella (Microsoft) or Jensen Huang (NVIDIA), who also frequently execute 10b5-1 plans, this transaction size is within the expected range for routine diversification and liquidity management.
• Similar planned sales have been observed from executives at Intel and Qualcomm, indicating this is a standard practice across the industry for managing large equity holdings.

Stakeholder Impact

• Shareholders: The sale slightly reduces the CEO's direct equity alignment, but the pre-planned nature minimizes negative signaling. The CEO retains substantial direct and indirect holdings.
• Employees: No direct impact on employees is indicated by this filing.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders is indicated by this filing.

Next Steps

• The Reporting Person undertakes to provide full information regarding the number of shares sold at each respective price within the stated ranges upon request from the SEC staff, the Issuer, or a security holder.

Key Dates

Recommendation

The insider sale by CEO Lisa Su was conducted under a pre-established 10b5-1 trading plan, indicating a routine personal financial management event rather than a reaction to new company-specific information. Given her substantial remaining direct and indirect holdings, this transaction does not fundamentally alter the investment thesis for AMD. Therefore, a 'hold' recommendation is appropriate, as the filing provides no new material information to warrant a change in investment strategy.

Keywords

AMD, Advanced Micro Devices, Lisa Su, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, CEO, Semiconductor