A senior executive at Nvidia (NVDA) is selling company stock.
Ajay K. Puri, Nvidia’s Executive Vice-President of Worldwide Field Operations, sold $5.5 million U.S. worth of company shares in the first stock sale by an insider at the company this year.
Puri sold shares on Jan. 6 and 7 at prices ranging from $150.41 U.S. to $152.50 U.S., which was near the stock’s all-time high.
The sales were made through a Rule 10b5-1 trading plan. Such plans are used by company insiders to remove the appearance that they may benefit from non-public information.
Such plans automatically execute trades when preset conditions such as volume, price, and timing are reached.
Puri adopted the trading plan last autumn and aims to sell as many as 204,890 shares of Nvidia stock, currently worth nearly $30 million U.S., by the end of 2025.
The shares sold had been held through a trust that Puri controls that now owns 3.90 million Nvidia shares.
According to filings with the U.S. Securities and Exchange Commission (SEC), Puri also owns 859,558 Nvidia shares in a personal account, and 46,360 shares through trusts established for his children.
The stock of Nvidia has gained 158% over the last 12 months and currently trades at $140.11 U.S. per share.
