Several senior executives at chipmaker Nvidia (NVDA) arranged to sell shares in the company leading up to the 10-for-1 stock split that is taking place today (June 10).
Chief Executive Officer (CEO) Jensen Huang sold 600,000 shares of Nvidia stock worth an estimated $650 million U.S.
According to filings with the U.S. Securities and Exchange Commission (SEC), three other senior executives at Nvidia have filed to sell shares of the company.
Debora Shoquist, Nvidia’s executive vice president of operations, filed to sell 41,140 shares of Nvidia, along with Chief Financial Officer (CFO) Colette Kress, who sold 50,000 shares.
Nvidia’s executive vice president of worldwide field operations, Ajay Puri, took steps to sell 100,832 shares of Nvidia’s common stock.
The stock sales were prearranged and are part of the executive’s annual compensation, said the company. It is not uncommon for management at publicly traded companies to sell stock.
In Nvidia’s case, the stock sales come after the company’s share price has risen 150% this year and more than tripled in the last 12 months, closing at $1,208.88 U.S. on June 7.
Nvidia’s stock begins trading on a 10-for-1 split adjusted basis today (June 10). The stock is set to open trading at $120.89 U.S. per share after the split is completed.
Tech Insider
