AMD Data Center Executive Sells $9.33 Million in Shares Under Trading Plan

Forrest Eugene Norrod, executive vice president and general manager of the Data Center Solutions Business Unit at Advanced Micro Devices (AMD), sold about $9.33 million in shares Oct. 15, his third sale since August.

Norrod sold 17,262 shares at weighted-average prices ranging from $535.15 to $543.03 per share. An Oct. 15 Form 144 notice identified the proposed sale, and an Oct. 19 Form 4 recorded the completed transactions.

He also exercised options for 7,262 shares at $84.85 each on Oct. 15. The shares sold consisted of those 7,262 shares and 10,000 performance shares acquired in 2023. After the exercise and sale, Norrod directly held 353,317 shares, a net decline of 10,000.

The sale was made under a Rule 10b5-1 trading plan Norrod adopted May 20. He had sold 17,261 shares Sept. 15 for about $8.68 million and another 17,261 shares Aug. 24 for about $7.94 million. Both earlier sales were also made under the May plan.

AMD’s Data Center segment generated $6.7 billion in second-quarter revenue, up 107% from a year earlier. The segment accounted for 58% of the company’s quarterly revenue.

AMD plans to release third-quarter results Nov. 3 after the market closes.