AMD Executives Vest Bonus Shares... Liquidate Holdings Worth Billions for Taxes

On February 15, Advanced Micro Devices, Inc. (AMD) saw the restricted stock units (RSUs) and performance-restricted stock units (PRSUs) held by Forest Norrod, Corporate Vice President and General Manager, and Jack M. Huin, Senior Vice President and General Manager, vest and convert into common shares. Each executive acquired tens of thousands of additional AMD shares upon vesting and simultaneously sold a portion through a mandatory withholding arrangement to cover taxes. In Norrod’s case, roughly $6.3 million (about ₩8.5 billion) worth of shares was surrendered for tax purposes. All transactions were disclosed as non-open-market, non-discretionary events tied to share-based compensation vesting and related tax settlements.

Earlier this month, AMD reported record quarterly revenue of $10.3 billion for the fourth quarter of fiscal 2025. However, its guidance for first-quarter 2026 sales fell short of analyst expectations, triggering a 17 percent one-day drop in the company’s share price on February 4 and heightened volatility. To drive growth in AI and data-center markets, AMD recently appointed former Salesforce executive Ariel Kelman as Chief Marketing Officer and completed its $4.6 billion share repurchase program, launched in 2022, as part of ongoing shareholder-return initiatives and organizational realignment.

Headquartered in California, AMD is a global leader in semiconductor design. Its product lineup includes EPYC processors for data centers, Instinct accelerators for AI workloads, and Ryzen CPUs for personal computers. Norrod and Huin—who lead AMD’s data-center and computing & graphics businesses, respectively—are central to executing the company’s AI infrastructure and cloud-chip strategy.