Matthew S. Garman, who leads Amazon Web Services, reported the sale of 17,751 shares of Amazon.com Inc. (NASDAQ: AMZN) common stock on February 23, 2026, according to a Form 4 filing with the Securities and Exchange Commission. The sales were executed under a pre-existing 10b5-1 trading arrangement and generated total proceeds of $3,642,841.
The disposition occurred across multiple executions with per-share prices spanning $204.1438 to $208.054. The filing details the following tranches: 5,881 shares at a weighted average price of $204.1438; 5,195 shares at $204.7972; 4,202 shares at $206.0169; 1,868 shares at $207.0637; and 605 shares at $208.054. At the time of reporting, Amazon shares were trading at $208.56, representing an approximate 10% decline year-to-date.
Earlier in the week, on February 21, 2026, Garman also acquired 20,883 shares through the exercise of Restricted Stock Unit awards, all with an exercise price of $0. Those exercises were reported as three separate events involving 6,300 shares, 6,940 shares and 7,643 shares respectively.
Market valuation commentary included in the filing materials references an independent Fair Value assessment that indicates Amazon may be undervalued at current price levels. Additional, more detailed equity research is available through the platform noted in the filing for investors seeking expanded analysis across Amazon and more than 1,400 U.S. equities.
Other company developments cited alongside the insider transactions
- PayPal Holdings Inc has reportedly drawn takeover interest after share weakness, with commentary noting that assets such as Venmo and the buy now, pay later business could command premium multiples if divested.
- Amazon has halted development of its Blue Jay robot program, which had been introduced for same-day delivery warehouse operations. Employees previously assigned to Blue Jay have been moved to other robotics initiatives within the company.
- An Amazon-backed company, X-Energy Reactor Co., received federal authorization to produce uranium fuel for advanced reactors. The license permits TRISO-X, a subsidiary, to manufacture fuel using high-assay low-enriched uranium at two facilities in Oak Ridge, Tennessee. The filing notes this is the first such license issued in over 50 years.
- Amazon Pharmacy announced plans to broaden its same-day delivery footprint to nearly 4,500 cities in 2026, expanding the companys domestic pharmacy delivery reach.
- A regulatory filing discloses that Amazon holds a 5.3% stake in BETA Technologies, an electric aviation company. The filing indicates that Amazon.com NV Investment Holdings LLC holds sole voting and sole investment power over the shares.
The sequence of insider selling and concurrent stock-unit exercises, along with the catalogue of operational moves and strategic investments disclosed in filings, presents a multifaceted snapshot of activity around Amazon in late February 2026. The share sale by the AWS chief was structured under an established 10b5-1 program, and the RSU exercises were reported two days prior to the sale. The other corporate items noted in filings and reports cover areas from robotics and logistics to nuclear fuel production, pharmacy logistics and electric aviation equity stakes.
Investors tracking insider flows and company announcements may weigh these discrete events in the context of the companys broader strategic initiatives. The filings provide precise transaction details and confirm the movements of shares by a senior executive while also disclosing multiple operational shifts and regulatory developments involving Amazon and affiliated entities.