The Insider Ledger

Weekly intelligence from public SEC filings

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A no-signal week: 70 filings, all disposals, $57.3M in standing-plan sales across AMD, Amazon, and Meta

2026-W35 · 2026-08-27

What am I looking at?

Every week an automated pipeline reads new SEC filings — insider trades (Form 4), activist stakes (Schedule 13D), and quarterly fund holdings (Form 13F) — from a fixed watchlist of prominent investors and founders, and writes the analysis below. Every claim links to the filings it comes from.

Each story carries a signal label: strong marks actions that historically carry information (open-market insider purchases, buying clusters, new activist stakes); moderate marks noteworthy but ambiguous moves; weak marks routine activity such as scheduled 10b5-1 sales. The cards below total the shares and dollar value in the filings this edition cites. See the methodology for the full rubric.

13
Filings cited
147,516
Shares sold
$57.3M

Every one of the 70 transactions filed this week across the watchlist is a sale, and every single one is flagged as executed under a pre-arranged Rule 10b5-1 trading plan — there is not one open-market purchase, no new Schedule 13D, and no institutional 13F activity to report. The filings come from three companies only: AMD's CEO, CTO, an EVP, and its general counsel; Amazon's CEO, the heads of AWS and Worldwide Stores, and three more finance and legal officers; and Meta's CFO, CTO, and chief legal officer. Combined dollar volume is about $57.3M, with AMD accounting for just over half. Because every line item was scheduled in advance rather than decided this week, none of it reflects a change of view by any watched executive, and we flag every story below as weak. Read this week as baseline noise, not signal.

AMD CEO Lisa Su files $7.2M in standing-plan sales weak

Chair, President & CEO Lisa Su filed 13 sale lines within a single accession on 2026-08-18, totaling 15,000 shares for about $7.21M (events 0000002488-26-000167:0 through :12). The filing is flagged as a Rule 10b5-1 transaction, meaning the timing and size were fixed in advance under a standing plan rather than a discretionary decision made this week. This continues a recurring pattern of scheduled disposals and carries no read on her view of AMD.

AMD

AMD CTO Mark Papermaster's $13.6M sale is the week's largest single filing weak

Chief Technology Officer & EVP Mark Papermaster filed 8 sale lines on 2026-08-20 totaling 28,811 shares for roughly $13.6M (events 0000002488-26-000174:0 through :7), the single largest dollar figure of the week from any insider. Like every other transaction this week, the filing is disclosed as a 10b5-1 plan sale, so the size and timing were pre-arranged and do not reflect a decision made this week.

AMD

AMD's EVP and general counsel add another $9.4M in scheduled selling weak

Forrest Norrod, EVP & GM of AMD's Data Center Solutions Group, filed 13 sale lines on 2026-08-24 totaling 17,261 shares for about $7.94M (events 0000002488-26-000176:0 through :12). Separately, SVP, General Counsel & Corporate Secretary Ava Hahn sold 2,993 shares for roughly $1.46M on 2026-08-18 (event 0000002488-26-000165:0). Both are 10b5-1 plan sales, bringing AMD's total insider selling this week to four senior executives and about $30.2M, with no offsetting purchase from any watched actor.

AMD

Amazon CEO Andy Jassy sells $5.2M under a standing plan weak

President and CEO Andy Jassy filed 4 sale lines on 2026-08-21 totaling 20,000 shares for about $5.18M (events 0001374545-26-000010:0 through :3), flagged as a 10b5-1 plan transaction. The size and timing were set in advance, so this filing extends a recurring disposal pattern rather than signaling any change in Jassy's view of Amazon.

AMZN

AWS CEO Matt Garman and Worldwide Stores CEO Doug Herrington add $5.4M in scheduled Amazon sales weak

Matt Garman, CEO of Amazon Web Services, filed 4 sale lines on 2026-08-21 totaling 14,541 shares for about $3.77M (events 0002024813-26-000010:0 through :3). Doug Herrington, CEO of Worldwide Amazon Stores, filed 3 sale lines the same day totaling 6,362 shares for about $1.65M (events 0001936006-26-000022:0 through :2). Both are disclosed as 10b5-1 plan sales alongside Jassy's disposal in the same filing window; routine, not a signal.

AMZN

Amazon's finance and legal officers round out $6.2M more in insider selling weak

Senior Vice President and CFO Brian Olsavsky sold 6,172 shares for about $1.61M on 2026-08-21 (event 0001639902-26-000008:0). Senior Vice President David Zapolsky filed 5 sale lines across 2026-08-21 and 2026-08-24 totaling 15,430 shares for about $4.00M (events 0001557979-26-000008:0 through :4). Vice President Shelley Reynolds sold 2,343 shares for about $607K on 2026-08-21 (events 0001397333-26-000006:0 through :2). All are 10b5-1 plan sales, bringing Amazon's total insider selling this week to six executives and about $16.8M.

AMZN

Meta CFO Susan Li's 13-line sale totals $5.1M weak

Chief Financial Officer Susan Li filed 13 sale lines on 2026-08-18 totaling 9,196 shares for about $5.06M (events 0000950103-26-012727:0 through :12), disclosed as a Rule 10b5-1 plan transaction. The individual line sizes vary widely (from 40 to 1,864 shares), consistent with a pre-set formula rather than a discretionary decision made this week.

META

Meta's CTO and chief legal officer also sell on standing plans weak

Chief Technology Officer Andrew Bosworth sold 7,848 shares for about $4.38M on 2026-08-18 (event 0000950103-26-012726:0). Chief Legal Officer Curtis Mahoney sold 1,559 shares for about $870K the same day (event 0000950103-26-012729:0). Both are 10b5-1 plan sales filed alongside Li's disposal, bringing Meta's total insider selling this week to three executives and about $10.3M, with no purchase or accumulation from any watched actor.

META

Sectors

semiconductors — All semiconductor activity this week was AMD insider selling: CEO Lisa Su, CTO Mark Papermaster, EVP Forrest Norrod, and general counsel Ava Hahn together filed about $30.2M in 10b5-1 plan sales, the largest dollar total of any sector this week. No purchases, no 13D filings, and no institutional accumulation anywhere in the sector.

consumer — Amazon's entire executive bench — CEO Andy Jassy, AWS CEO Matt Garman, Worldwide Stores CEO Doug Herrington, CFO Brian Olsavsky, and two more finance and legal officers — filed about $16.8M in standing-plan sales this week, all pre-arranged and none reflecting a change in view of the company.

software_internet — Meta's CFO, CTO, and chief legal officer filed about $10.3M in 10b5-1 plan sales this week. Combined with AMD and Amazon, every dollar of insider activity across the watchlist this week was a scheduled disposal.

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