Huang Renxun Initiates 10b5-1 Stock Sale Plan, Plans to Sell Up to 6 Million NVIDIA Shares by Year-End

BlockBeats News, June 24th, NVIDIA CEO Jensen Huang's new 10b5-1 trading plan has officially launched, planning to sell up to 6 million shares by the end of this year. NVIDIA's stock price fell below $100 earlier this spring and has since rebounded by 53%, closing at around $144 as of Monday. According to the latest U.S. Securities and Exchange Commission (SEC) filing, Huang sold 100,000 shares between Friday and Monday, worth $14.4 million. This sale is part of the new 10b5-1 trading plan. Huang's preset stock trading plan was established in March in accordance with SEC Rule 10b5-1, which allows insiders to sell stock at a predetermined time, even if they may possess material nonpublic information thereafter. These plans are designed to protect executives from insider trading allegations. Under the 10b5-1 plan, Huang can exercise options for 6 million shares by the end of the year, calculated at Monday's closing price of $144, with this portion of the stock worth approximately $865 million.

According to another SEC filing, NVIDIA board member and billionaire Mark Stevens has also begun selling stock, selling over 600,000 shares on June 18th, worth approximately $88 million.