Globalfoundries chief legal officer sells $16,418 in shares

On October 8, 2026, Azar Samak L, Chief Legal Officer at Globalfoundries Inc., sold 335 of the company's ordinary shares. The transaction, executed under a previously adopted Rule 10b5-1 trading plan, resulted in a total sale price of $16,418, with each share sold at $49.01. Post-sale, Samak L retained 8,459 ordinary shares in Globalfoundries.

The stock was trading at $48.24 at the time of the sale, close to the purchase price, and had shown a robust yearly performance of 37% despite recent market fluctuations. InvestingPro analysis suggests the stock could be undervalued, trading below its Fair Value, and currently stands at a market capitalization of $27.09 billion with a P/E ratio of 37.35.

The insider sale comes amid several notable developments at Globalfoundries, including the finalization of a $375 million quantum CHIPS research and development award, the expansion of an agreement with Marvell Technology to boost semiconductor production capacity, and the downgrading of the stock from Outperform to Neutral by BNP Paribas Exane due to concerns about the company's growth trajectory, though optimism remains about diversification into higher-margin applications.