NVIDIA CEO Sells $580 Million In Stock In 2024 – More Than 5x Of Other Executives

NVIDIA CEO Jensen Huang has been busy selling shares since June after the firm’s stock peaked and made it the most valuable company in the world for a brief period. Huang’s latest SEC filing, made yesterday, shows that he sold $14.2 million in stock yesterday. This brings his cumulative share sales since the second week of June to a cool $579 million, allowing the executive to benefit from his position as one of the richest people in the world.

NVIDIA’s stock has lost its steam since June after Wall Street’s newfound caution around artificial intelligence has seen investors shift their focus on cost control and monetization before resuming the euphoria that’s been present since last year.

NVIDIA CFO, Others Also Unload Stock In 2024

As per the latest SEC filing, Huang has sold NVIDIA stock 40 times this year. His first sale took place in mid-June, when the NVIDIA CEO offloaded 12,000 shares for $15.5 million. Since then, all of his sales have involved share blocks of 12,000 shares, with banking giant Charles Schwab acting as his primary broker.

Executive stock sales are pre-planned events designed to prevent executives from profiting from any insider knowledge they might have about their company’s operations. These sales follow the SEC’s Rule 10b5-1 and are made by a third party over which the executive has no influence.

While Huang has been the predominant NVIDIA high-level executive when it comes to stock sales, he isn’t the only one. Regulations require management to disclose their 10b5-1 stock sale plans in a firm’s 10-K filing, and NVIDIA’s quarterly filing for its first quarter of fiscal 2025 mentioned that along with CEO Huang and CFO Colette Kress, its executive vice presidents of operations and worldwide field operations had also planned stock sales.

NVIDIA’s Share Price Performance Since Huang’s Stock Sales Started

NVIDIA’s shares have lost roughly 7.9% since Huang started selling the stock in June. As of Friday, including the first June sale, the NVIDIA CEO has sold shares 40 times in 2024. Each transaction involved a block of 120,000 shares, which netted him $14.49 million on average per sale. As a whole, he had earned $579.7 million through his 2024 stock sales as of August 30th, 2024.

Along with Huang’s more than half a billion dollars in stock sales, Kress, worldwide field operations EVP Ajay Puri, and EVP operations Debora Shoquist have also sold stock this year. Kress’ sale was made in mid-June, and it saw her offload a block of 300,000 shares to earn $39.2 million in proceeds. EVP field operations Puri, who had filed a 10b5-1 during the second quarter to enable him to sell one million NVIDIA shares, also participated.

NVIDIA had disclosed this arrangement in its SEC filing for the first quarter of fiscal 2025, and Puri sold 100,110 shares in July. Following this sale, NVIDIA’s Q2 SEC filing revealed that Puri had decided to scrap this plan after making the sole July sale that earned him $13 million.

Another 10b5-1 plan in the Q1 filing was for EVP Shoquist, which authorized her to sell 41 million shares until June 2025. Like Kress, Shoquist has also sold stock only once this year. This sale came in early July, and it earned her $45.1 million in proceeds.

Cumulatively, the four NVIDIA executives have sold $677 million worth of stock this year. Huang accounts for most of the sales and has been selling stock in blocks of 120,000 shares on a near-daily basis since June.