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Home Technology

Nvidia board members sell stock value nearly $300M

INBV News by INBV News
March 8, 2024
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Nvidia board members sell stock value nearly $300M
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Nvidia’s board members collectively cashed in on nearly $300 million value of holdings within the $2 trillion artificial intelligence giant up to now this 12 months, reaping the advantages of the corporate’s recent stock surge.

Longtime Nvidia board member Tench Coxe — the previous managing director at California-based enterprise capital investment firm Sutter Hill Ventures — sold 200,000 shares on March 5 at $850.03 to $852.50, in keeping with a regulatory filing.

The transaction marks a windfall as high as $170.5 million for Coxe, who has been on Nvidia’s board since 1993.

Under the terms of his agreement as a director, Coxe earns restricted stock valued at $255,000 annually in addition to $85,000 in money, Fortune reported.

12 months thus far, 4 of Nvidia’s 13 board members have sold their holdings in the unreal intelligence giant, reaping a collective $276.8 million. REUTERS

He acquired shares for just $0.82 within the chipmaker in 1997 — two years before the firm went public.

The figure means Coxe made a greater than 100,000% profit on his investment nearly three a long time ago.

For reference, the AI-chip developer’s CEO, Jensen Huang, holds about 86 million shares in the corporate, a 3.5% stake.

Huang’s holdings in the corporate have minted him a $78 billion fortune, rocketing him to the No. 20 spot on the Bloomberg Billionaire’s List.

The day before Coxe’s selloff, Nvidia director Mark Stevens — who joined the board in 2008 — sold 12,000 shares at $852.06 to $855.02, earning him roughly $10.2 million, per Fortune, citing a separate Securities and Exchange Commission filing.

Stevens — the billionaire managing partner at private family office investment firm S-Cubed Capital and former partner of high-profile VC firm Sequoia Capital — shed one other 15,000 shares last month, value about $12 million.

Longtime Nvidia director Tench Coxe saw the most important windfall. He sold 200,000 shares on March 5 value roughly $170.5 million. Nvidia

And in January, Stevens — a director since 2008 — shed 36,000 Nvidia shares, once they were trading at roughly $546 each, for an roughly $19.7 million payday, in keeping with Fortune.

One more board member, biopharmaceutical veteran Mark Perry — who also serves as an independent consultant to Nvidia — 15,000 shares for about $11.9 million on Feb. 23, per Fortune.

Perry’s transaction took place two days after Nvidia reported that its fourth-quarter revenue beat estimates by a powerful 7% margin.

On March 4, Nvidia director Mark Stevens sold 12,000 shares, earning him roughly $10.2 million. Markstevens.com

Per week later, longtime Nvidia board member and managing partner of personal investment firm Square Wave Enterprise Harvey Jones sold 65,000 of his shares in the corporate for a complete value of $53 million.

The six transactions 12 months thus far have made 4 of Nvidia’s 13 board members a collective $276.8 million.

Despite their sales, all board members still have a major stake in Nvidia.

Nvidia’s share price has seen a greater than 90% gain up to now this 12 months. The surge has pushed the firm’s market cap over $2 trillion, putting Nvidia among the many world’s Most worthy corporations. Google Finance

Coxe holds around 4.1 million shares, while Stevens’ stake consists of about 4.4 million shares, in keeping with Fortune.

Perry still boasts 152,000, shares, and Jones holds roughly 1 million, Fortune reported.

The selloffs come as Nvidia has seen historic gains on the Nasdaq, jockeying with Microsoft and Apple — who’ve $3 trillion and $2.6 trillion valuations, respectively — for a spot among the many Most worthy corporations.

Nvidia CEO Jensen Huang has a 3.5% stake in the corporate. REUTERS

On the time of writing, Nvidia was trading at $917.10 — up greater than 30% over the past month alone, and a whopping 90.51% year-to-date increase.

The corporate currently boasts a market cap of $2.3 trillion.

Representatives for Nvidia declined to comment.

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Nvidia’s board members collectively cashed in on nearly $300 million value of holdings within the $2 trillion artificial intelligence giant up to now this 12 months, reaping the advantages of the corporate’s recent stock surge.

Longtime Nvidia board member Tench Coxe — the previous managing director at California-based enterprise capital investment firm Sutter Hill Ventures — sold 200,000 shares on March 5 at $850.03 to $852.50, in keeping with a regulatory filing.

The transaction marks a windfall as high as $170.5 million for Coxe, who has been on Nvidia’s board since 1993.

Under the terms of his agreement as a director, Coxe earns restricted stock valued at $255,000 annually in addition to $85,000 in money, Fortune reported.

12 months thus far, 4 of Nvidia’s 13 board members have sold their holdings in the unreal intelligence giant, reaping a collective $276.8 million. REUTERS

He acquired shares for just $0.82 within the chipmaker in 1997 — two years before the firm went public.

The figure means Coxe made a greater than 100,000% profit on his investment nearly three a long time ago.

For reference, the AI-chip developer’s CEO, Jensen Huang, holds about 86 million shares in the corporate, a 3.5% stake.

Huang’s holdings in the corporate have minted him a $78 billion fortune, rocketing him to the No. 20 spot on the Bloomberg Billionaire’s List.

The day before Coxe’s selloff, Nvidia director Mark Stevens — who joined the board in 2008 — sold 12,000 shares at $852.06 to $855.02, earning him roughly $10.2 million, per Fortune, citing a separate Securities and Exchange Commission filing.

Stevens — the billionaire managing partner at private family office investment firm S-Cubed Capital and former partner of high-profile VC firm Sequoia Capital — shed one other 15,000 shares last month, value about $12 million.

Longtime Nvidia director Tench Coxe saw the most important windfall. He sold 200,000 shares on March 5 value roughly $170.5 million. Nvidia

And in January, Stevens — a director since 2008 — shed 36,000 Nvidia shares, once they were trading at roughly $546 each, for an roughly $19.7 million payday, in keeping with Fortune.

One more board member, biopharmaceutical veteran Mark Perry — who also serves as an independent consultant to Nvidia — 15,000 shares for about $11.9 million on Feb. 23, per Fortune.

Perry’s transaction took place two days after Nvidia reported that its fourth-quarter revenue beat estimates by a powerful 7% margin.

On March 4, Nvidia director Mark Stevens sold 12,000 shares, earning him roughly $10.2 million. Markstevens.com

Per week later, longtime Nvidia board member and managing partner of personal investment firm Square Wave Enterprise Harvey Jones sold 65,000 of his shares in the corporate for a complete value of $53 million.

The six transactions 12 months thus far have made 4 of Nvidia’s 13 board members a collective $276.8 million.

Despite their sales, all board members still have a major stake in Nvidia.

Nvidia’s share price has seen a greater than 90% gain up to now this 12 months. The surge has pushed the firm’s market cap over $2 trillion, putting Nvidia among the many world’s Most worthy corporations. Google Finance

Coxe holds around 4.1 million shares, while Stevens’ stake consists of about 4.4 million shares, in keeping with Fortune.

Perry still boasts 152,000, shares, and Jones holds roughly 1 million, Fortune reported.

The selloffs come as Nvidia has seen historic gains on the Nasdaq, jockeying with Microsoft and Apple — who’ve $3 trillion and $2.6 trillion valuations, respectively — for a spot among the many Most worthy corporations.

Nvidia CEO Jensen Huang has a 3.5% stake in the corporate. REUTERS

On the time of writing, Nvidia was trading at $917.10 — up greater than 30% over the past month alone, and a whopping 90.51% year-to-date increase.

The corporate currently boasts a market cap of $2.3 trillion.

Representatives for Nvidia declined to comment.

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