Adam Selipsky, CEO of Amazon Web Services, recently sold a portion of his Amazon.com Inc (NASDAQ:AMZN) stock, according to the latest SEC filings. On May 21 and 22, Selipsky sold a total of 4,600 shares at prices ranging from $181.338 to $183.85, resulting in a total transaction value of approximately $836,337.
The transactions were carried out under a prearranged 10b5-1 trading plan, which allows company insiders to set up a trading schedule in advance to avoid accusations of insider trading. This type of plan is often used by corporate executives to sell their shares in a systematic and predetermined manner.
Selipsky's recent stock sales are part of a series of transactions that took place over two days. On the first day, he sold 2,956 shares at an average price of $181.338 and another 1,144 shares at an average price of $182.148. The following day, he sold an additional 500 shares at a price of $183.85 each. The highest price at which shares were sold was $182.68 and the lowest was $180.86, as noted in the footnotes of the SEC filing.
In addition to these sales, Selipsky also acquired 9,000 shares of Amazon stock at no cost through the exercise of options, which is reflected in the "M" transaction code with a total value of $0. This transaction increased his direct ownership in the company, but these shares were not part of the sales reflected in the total dollar value mentioned above.
After these transactions, Selipsky's direct holdings in Amazon.com Inc. have changed, but the exact number of shares remaining in his possession was not disclosed in the filing. The SEC document also mentioned that Selipsky has indirect holdings in Amazon stock, including shares held in trust and an Amazon.com 401(k) plan account.
Investors and market watchers often look to insider buying and selling as a signal of corporate executives' confidence in the company's prospects. However, it's important to note that insider transactions can be motivated by a variety of factors and may not necessarily indicate the future performance of the company's stock.
Amazon.com Inc. has not made any official comment on these transactions.
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