Form 4: Amazon's Matthew Garman Sells Shares Under 10b5-1 Trading Plan

Matthew Garman, CEO of Amazon Web Services, sold Amazon shares on February 21, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Matthew Garman, CEO of Amazon Web Services, reported the sale of Amazon (AMZN) shares on February 21, 2025.
• The sales were executed under a Rule 10b5-1 trading plan adopted on May 29, 2024.
• Multiple transactions occurred at varying prices, ranging from $218.43 to $223.21.
• The reporting person sold shares at weighted average prices of $219.046, $219.8145, $220.9106, $222.0623 and $222.7926.
• After the reported transactions, Garman directly owns 0 shares of common stock and 334,021 in RSUs.
• Garman also indirectly owns 887.52 shares through the Amazon.com 401(k) Plan Account.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to stock sales under a pre-arranged trading plan, indicating a neutral sentiment.

Industry Context

Sales by insiders are a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares without being accused of acting on non-public information. It is important to consider the size and frequency of insider sales in relation to the overall trading volume of the stock.

Comparison to Industry Standards

• Comparing Garman's transactions to other executive stock sales at large tech companies like Microsoft (MSFT), Apple (AAPL), and Google (GOOGL) would provide context.
• Analyzing the percentage of Garman's holdings sold relative to his total compensation and net worth would be useful.
• Benchmarking the timing of the sales against Amazon's stock performance and major company announcements could reveal patterns.

Stakeholder Impact

• The stock sales could have a minor impact on shareholder sentiment, depending on the interpretation of insider selling activity.
• The impact on employees, customers, suppliers, and creditors is likely to be negligible.

Key Dates