Advanced Micro Devices insider Mark D. Papermaster reported a planned stock option exercise and sale of AMD common stock on July 15, 2026. Papermaster exercised stock options covering 6,000 shares of AMD common stock at an exercise price of $84.85 per share. The option exercise was reported as a transaction code “M,” which is used for the exercise or conversion of derivative securities. The options had vested in three equal annual installments, with one-third vesting on each of August 9, 2021, August 9, 2022, and August 9, 2023, meaning the options were fully vested by the time of the transaction. On the same date, Papermaster also sold 6,000 shares of AMD common stock at a reported price of $556.43 per share. The sale was reported as transaction code “S,” indicating a sale of securities. At that price, the sale generated gross proceeds of approximately $3.34 million, before taxes, commissions or other costs. The difference between the sale price and the $84.85 option exercise price represented a pre-tax spread of about $2.83 million on the exercised shares. The filing states that both the option exercise and the sale were carried out under a Rule 10b5-1 trading plan that Papermaster adopted on November 14, 2025. Such plans allow insiders to schedule future transactions in advance, typically to reduce concerns that trades are being made on the basis of material nonpublic information. After the reported transactions, Papermaster beneficially owned 1,239,687 shares of AMD common stock. Because the 6,000-share option exercise was paired with a sale of 6,000 shares, the transaction appears to have converted vested options into shares and then immediately sold those shares, leaving his reported common-stock ownership unchanged by the same number of shares while reducing his outstanding option position. The Form 4 was signed on Papermaster’s behalf by Linda Lam under power of attorney on July 16, 2026.