Nvidia (NVDA) chief executive officer (CEO) Jensen Huang has sold another six million shares of the company he runs, bringing total proceeds from his stock sales this year to $713 million U.S.
The sales were made as part of a pre-established trading plan Huang adopted earlier this year and builds on other stock sales he made in recent months.
Huang has now sold Nvidia stock at prices ranging from $91.72 U.S. to $140.24 U.S. since June.
In all, he has grossed $713 million U.S. from the stock sales executed under a Rule 10b5-1 trading plan.
Huang sold all the shares allotted under the trading plan six months before it was set to expire.
Despite the stock sales, Huang remains the largest individual shareholder of Nvidia stock, owning 3.8% of the chipmaker.
Nvidia’s stock has risen 150% this year and currently trades at $120.87 U.S. per share.
While Huang’s stock sales were pre-arranged, the offloading of shares by senior management often undermines investor confidence in a company and security.
Tech Insider
