August 14, 2024 – According to recent filings with the U.S. Securities and Exchange Commission (SEC), NVIDIA CEO Jen-Hsun Huang sold a total of 240,000 shares of the company’s stock on August 8 and 9, realizing a profit of $24.91 million.
Documents reveal that Huang has been consistently selling NVIDIA shares throughout the first week of August, following a pattern of disposing of 120,000 shares every trading day between August 1 and August 9. This systematic selling has resulted in a cumulative cash-out of $86.765 million.
Furthermore, SEC filings indicate that between June 13 and August 1, Huang sold a total of 372,000 NVIDIA shares, generating over $470 million in proceeds.
It’s worth noting that these transactions were executed through a pre-arranged 10b5-1 trading plan. Such plans allow company insiders to schedule stock sales at predetermined times, thereby avoiding accusations of insider trading. These plans are typically set up when insiders do not possess any private information that could potentially influence the stock price.
Huang is not the only NVIDIA executive to have sold shares recently. According to the filings, in July, NVIDIA board member Mark Stevens sold shares worth approximately 125million,whileJayPuri,ExecutiveVicePresidentofGlobalBusinessOperations,soldsharesvaluedataround10 million.
