Nvidia Corp (NASDAQ:NVDA) has reported a recent transaction involving the sale of company shares by Principal Accounting Officer, Donald F. Robertson Jr. According to the latest filing, Robertson sold a total of 4,500 shares, resulting in over $520,000 in proceeds.
The sales occurred on September 20, 2024, with prices ranging from $116.18 to $118.15. Specifically, 3,300 shares were sold at an average price of $116.18, with a range of $115.70 to $116.64. Another 900 shares were sold at an average price of $117.19, within a range of $116.77 to $117.73, and the final 300 shares were sold at an average of $118.15, with prices between $118.06 to $118.27.
This transaction was executed in accordance with a Rule 10b5-1 trading plan previously adopted by Robertson on October 6, 2023. Rule 10b5-1 plans allow company insiders to establish pre-arranged plans to buy or sell company stock when they are not in possession of material non-public information, providing a defense against claims of insider trading.
Additionally, the filing disclosed that on September 18, shares of Nvidia’s common stock were withheld by the company to satisfy tax obligations due in connection with the vesting of restricted stock units, which had been reported earlier. The total value of these withheld shares was $805,893, at a price of $115.59 per share.
After these transactions, Robertson’s holdings in Nvidia stock have been adjusted to 492,409 shares. The filings also noted minor adjustments to the total shares owned, including shares purchased through the company’s Employee Stock Purchase Plan and shares issued upon the vesting of restricted stock units.
Investors and followers of Nvidia Corp can find further details regarding the specific number of shares sold at each price point upon request to the Securities and Exchange Commission (SEC), Nvidia, or the security holder of the issuer.
In other recent news, OpenAI, the firm behind the popular ChatGPT technology, is currently in the process of a significant financing round that could potentially value the company at $150 billion. This valuation is contingent on the AI company’s ability to successfully restructure and remove a profit cap for its investors. The proposed funding round, amounting to $6.5 billion, is reportedly attracting strong interest from both existing and new investors, including tech giants Microsoft (NASDAQ:), Nvidia, and Apple (NASDAQ:).
In related developments, Nvidia’s significant stock rally has been a major…
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