Why did AVGO's CEO sell $120M in stock in November 2025, despite positive Q4 pre-announcement?

Broadcom Inc. (AVGO) did report a strong fourth quarter for fiscal year 2025, with CEO Hock Tan highlighting record revenue and significant growth in AI semiconductor revenue, leading to an increase in the quarterly dividend for fiscal year 2026. This positive announcement was made around December 11, 2025, covering the quarter that ended November 2, 2025.1

However, a specific insider stock sale of $120 million by CEO Hock Tan in November 2025 is not readily apparent in the publicly available insider trading records. While Fintel tracks various institutional ownership changes and other financial data for Broadcom, a direct Form 4 filing detailing a sale of this magnitude by the CEO in that particular month has not been identified in the search.2

Insider stock sales can occur for various reasons, including personal financial planning, diversification of assets, or liquidity needs, and are often executed under pre-arranged 10b5-1 trading plans. These plans allow corporate insiders to set up a predetermined schedule for buying or selling company stock, helping to avoid accusations of trading on material non-public information. Without a specific filing detailing the transaction, it is challenging to confirm the sale or ascertain its precise nature and motivations.