Nvidia Chairman and CEO Jen-Hsun Huang Sells More Than $31 Million in Company Stock By Investing.com

Nvidia Chairman and CEO Jen-Hsun Huang Sells More Than $31 Million in Company Stock By Investing.com
Nvidia Chairman and CEO Jen-Hsun Huang Sells More Than $31 Million in Company Stock By Investing.com

The president and CEO of Nvidia Corp (NASDAQ:), Jen-Hsun Huang, has recently sold a substantial amount of the company’s shares, according to a new filing with the SEC. The transactions, which took place between June 20 and 21, 2024, involved the sale of Nvidia shares for a total value of more than $31 million.

Sales were executed at variable prices, ranging between $124.7483 and $140.2401 per share. These transactions are part of a prearranged trading plan under Rule 10b5-1, which allows a company’s insiders to sell shares at predetermined times to avoid accusations of insider trading.

Huang’s trading began on June 20, with sales at prices between $129.72 and $139.99 per share, and continued the next day, with shares sold at prices between $124.38 and $140.70. The exact number of shares sold at each price point within these ranges may be provided upon request to the SEC, Nvidia or its security holders.

This series of stock sales significantly reduced Huang’s direct ownership in the company, although he still retains indirect ownership of millions of shares through various trusts and companies. Notably, a gift transaction was also reported, in which Huang transferred 445,000 shares without consideration, which are held by trusts in which he acts as trustee.

While stock sales by corporate executives are routine, often for personal financial management reasons, these large transactions can attract the attention of investors and the market. It should be noted that despite these sales, Huang maintains a significant stake in Nvidia through indirect holdings.

Investors often monitor insider trades for clues about executives’ confidence in their company’s future prospects. However, sales under a 10b5-1 trading plan are typically scheduled in advance and are not necessarily indicative of the executive’s market prospects.

Nvidia has not commented on the transactions and the semiconductor giant continues to act as normal.

This article has been generated and translated with the support of AI and reviewed by an editor. For more information, see our T&Cs.

 
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