The tech rally seen during the fourth-quarter reporting season has pushed the bloated valuations of these stocks even higher. Amid the rally, Advanced Micro Devices, Inc. (NASDAQ:AMD) CEO Lisa Su sold a chunk of the chipmaker’s stock, according to a Form 4 filed with the SEC on Friday.
What Happened: Su sold 125 million AMD shares in three tranches on Wednesday. Based on the per-share value of each tranche of shares, the sale would have fetched the CEO $20.42 million. The transaction price ranged from $162.77 to $164.24.
The sales were in accordance with the SEC Rule 10b5-1 trading plan Su adopted on Nov. 20, 2023. The rule offers corporate insiders a way to transact in ...