AWS and Retail Leadership: Amazon's Key Executives Cash Out Billions in May

Matthew S. Garman, CEO of AWS at Amazon.com, Inc. (NASDAQ: AMZN), Senior Vice President and General Counsel David Zapolski, and Douglas J. Herrington, CEO of Worldwide Amazon Stores, each sold a portion of the shares they received upon RSU vesting in May, executing pre-established Rule 10b5-1 trading plans.

On May 15, Garman converted 13,500 vested RSUs into common shares and sold the majority, generating roughly $3 million (about ₩4 billion) in proceeds. Around May 21, Zapolski and Herrington reported sales of approximately $4.1 million (₩5 billion) and $1.7 million (₩2 billion), respectively. All three executives retain several hundred thousand shares and maintain an RSU vesting schedule that extends through 2028–2030, reflecting a mix of stock-based compensation and staged liquidity.

Separately, Amazon CEO Andy Jassy sold about $8.6 million (near ₩10 billion) of company stock on May 4 under his own Rule 10b5-1 plan.

In its latest quarterly report, Amazon said revenues rose about 17% year-over-year, driven in part by aggressive expansion of its cloud business and AI-infrastructure investments—especially through partnerships with OpenAI.

Headquartered in Seattle, Amazon is a leading global e-commerce and cloud-services company; AWS is widely regarded as the world’s largest public cloud provider. Since his appointment as AWS CEO in 2024, Garman has spearheaded AI infrastructure and data-center investment plans. Herrington oversees retail operations as CEO of Worldwide Stores, and Zapolski serves as Senior Vice President, General Counsel, and Corporate Secretary—reporting directly to the board on legal and public policy matters.