Micron CEO Sells Millions in Stock Yet Retains Billion-Dollar Stake

Micron Technology Inc. (NASDAQ: MU) CEO Sanjay Mehrotra sold approximately 40,000 shares of the company’s common stock in the open market on May 29 under a pre-arranged Rule 10b5-1 trading plan, generating roughly $38 million in proceeds (about KRW 50 billion). The sale was executed in tranches at prices between approximately $940 and $980 per share. After this transaction, Mehrotra—including shares held in trust—still owns nearly one million shares, with his reported stake valued at around $1 billion (approximately KRW 1.3 trillion).

In a Form 8-K filing for the fiscal third quarter ended May 28, Micron reported revenue of $4.14 billion and net income of $2.8 billion, driven by strong AI demand and new strategic customer contracts. For the fourth quarter, the company guided to revenue of about $5 billion and non-GAAP earnings per share of roughly $31, while maintaining its quarterly dividend at $0.15 per share.

On June 22, Micron signed a long-term memory and storage supply agreement with AI startup Anthropic to support next-generation AI infrastructure, strengthening its AI memory offerings—including HBM and DDR5—for data centers. In March, the company also announced that it had begun high-volume production of its 36 GB, 12-high-stack HBM4 modules designed for NVIDIA’s next-generation “Vera Rubin” AI accelerator, accelerating its rollout of high-bandwidth memory optimized for AI workloads.

Headquartered in Boise, Idaho, Micron Technology is a global memory semiconductor company producing DRAM, NAND flash, and SSDs, and—alongside Samsung Electronics and SK Hynix—is a leading supplier in the AI data center high-bandwidth memory market. Mehrotra, an engineer born in India who co-founded flash memory pioneer SanDisk in 1988, has helmed Micron since 2017, spearheading its strategic shift toward an HBM- and high-performance memory–focused business model to capitalize on rising AI demand.