Huang Renxun launches 10b5-1 reduction plan, selling up to 6 million shares of Nvidia holdings by the end of the year

BlockBeats News: On June 24th, Nvidia CEO Huang Renxun's new 10b5-1 trading plan was officially launched, with plans to sell up to 6 million shares by the end of this year. Nvidia's stock price fell below $100 in the spring of this year and has now rebounded by 53%, closing at around $144 as of Monday. According to the latest filing from the US Securities and Exchange Commission (SEC), Huang Renxun sold 100000 shares worth $14.4 million between Friday and Monday as part of the new 10b5-1 trading plan. Huang Renxun's preset stock trading plan was formulated in March in accordance with SEC Rule 10b5-1, which allows insiders of the company to sell stocks at predetermined times, even if they may subsequently have significant non-public information. These plans aim to protect executives from insider trading charges. According to the 10b5-1 plan, Huang Renxun can exercise 6 million stock options before the end of the year, with a value of approximately $865 million based on Monday's closing price of $144. According to another SEC filing, Mark Stevens, a board member of NVIDIA and billionaire, also began selling stocks, selling over 600000 shares worth approximately $88 million on June 18th.