Form 4: Amazon Exec Sells Shares Under 10b5-1 Plan

Amazon Web Services CEO Matthew S. Garman executed a series of stock transactions, including sales and acquisitions, under a pre-arranged 10b5-1 trading plan.

Summary

• Matthew S. Garman, CEO of Amazon Web Services, reported a series of stock transactions on May 21, 2026.
• These transactions were conducted under a Rule 10b5-1 trading plan adopted on May 6, 2025.
• Garman acquired a total of 14,226 shares through the exercise of Restricted Stock Units (RSUs).
• Simultaneously, Garman sold a total of 15,034 shares of Amazon common stock at various weighted average prices ranging from $261.93 to $265.64.
• Following these transactions, Garman beneficially owns 14,159 shares directly and 887.52 shares indirectly through the Amazon.com 401(k) Plan Account.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as the transactions were conducted under a pre-established 10b5-1 plan, indicating planned activity rather than a reaction to new information.

Positives

• The transactions were executed under a Rule 10b5-1 plan, indicating pre-planned and potentially less market-sensitive trading activity.
• Acquisition of shares through RSU vesting demonstrates continued equity compensation for the executive.

Negatives

• A net of 808 shares were disposed of by the reporting person.
• Significant sale of shares by a key executive could be interpreted negatively by the market, although it was pre-planned.

Risks

• The filing does not explicitly mention any new risks or challenges.
• The primary risk associated with such transactions is the potential for negative market perception, despite being executed under a 10b5-1 plan.

Future Outlook

The filing primarily reports past transactions and does not contain forward-looking statements or guidance regarding future financial performance. The vesting schedules for RSUs indicate future share issuances over time.

Management Comments

• The reporting person undertakes to provide, upon request by the staff of the SEC, the issuer, or a security holder of the issuer, full information regarding the number of shares transacted at each price, with respect to all transactions reported on this Form 4.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions. The use of a 10b5-1 plan by Amazon's AWS CEO is consistent with best practices for executives to manage their stock holdings while avoiding potential insider trading concerns.

Stakeholder Impact

• Shareholders: The sale of shares by a key executive, even under a pre-planned 10b5-1, may lead to short-term market scrutiny, though the pre-planned nature mitigates concerns about insider trading.
• Employees: The filing relates to executive compensation and stock ownership, indirectly impacting employee perception of executive alignment.
• Management: Demonstrates adherence to corporate governance best practices regarding stock transactions.

Next Steps

• Continued vesting of Restricted Stock Units according to the outlined schedules.
• Potential future transactions under the 10b5-1 plan or new plans.

Key Dates

Keywords

Form 4, SEC Filing, Insider Trading, 10b5-1 Plan, Matthew S. Garman, Amazon, AMZN, Stock Sale, Restricted Stock Units, Executive Compensation