Nvidia Director Mark Stevens Sold $946 Million in 4.2 Million Shares Before CEO Exit
Updated
Updated · Yahoo Finance · Nov 13
Nvidia Director Mark Stevens Sold $946 Million in 4.2 Million Shares Before CEO Exit
2 articles · Updated · Yahoo Finance · Nov 13
Summary
$946 million in Nvidia stock was sold by board director Mark Stevens across three trades before CEO Jensen Huang resigned on Nov. 12, SEC filings show.
4.2 million shares were sold in batches from Aug. 31-Sept. 2, Sept. 3-4 and Sept. 18, with the first sale raising $411 million, the second $236 million and the third about $300 million.
Stevens did not use a prearranged 10b5-1 trading plan, though the report notes that absence alone is not necessarily a red flag because insiders often sell for liquidity or other personal reasons.
The first two sales came after Nvidia's strong Q2 earnings pushed the stock about 10% higher in the following week, and Stevens still holds roughly 27.5 million shares.