Board members at Nvidia—the AI company no one can stop talking about that is at the forefront of the tech evolution—are reaping the benefits of a run-up in the company’s stock. Shares in the company traded at $887 today, up 26.5% this month alone.
Four insiders sold holdings via multiple transactions in the past four weeks, SEC filings show. They joined a growing list of executives who have unloaded billions in company stock in recent months. JPMorgan Chase CEO Jamie Dimon logged his first-ever stock sale last month to the tune of $150 million, while Amazon founder Jeff Bezos sold $8.5 billion in Amazon stock. Meta Platforms founder Mark Zuckerberg sold $1.2 billion worth, and private equity founder Leon Black made his first-ever sale worth $172.8 million.
On the Nvidia board, Tench Coxe, former managing director at venture capital investment firm Sutter Hill Ventures, sold $170 million in company stock in three transactions yesterday. As a director, Coxe earns restricted stock valued at $255,000 annually and $85,000 in cash. Coxe has been an Nvidia board member since 1993.
Similarly, board member Mark Stevens offloaded 12,000 shares worth $10.2 million this week after shedding 15,000 shares last month, worth about $12 million. Stevens is managing partner at private family office investment firm S-Cubed Capital and was previously a partner at VC investment company Sequoia Capital. Stevens was a director from 1993 to 2006 and rejoined the board in 2008. Stevens previously sold 36,000 shares in January when the stock was about $546 for approximately $19.7 million.
Another board member, Mark Perry, sold 15,000 shares for about $11.9 million on Feb. 23, just two days after the company reported earnings. Perry has been a director for nearly a decade and is a consultant for nonprofits and former CEO at biopharmaceutical company Aerovance.
Harvey Jones, a longtime director who joined the board in 1993, carved off a portion of his stake in the company for about $53 million. Jones is managing partner of Square Wave Ventures.
Despite their sales, Coxe, Jones, Stevens and Perry still have significant stakes in the AI-chip developer. Coxe holds around 4.1 million shares, Jones holds nearly a million shares, Perry holds 152,000, and Stevens holds 4.4 million shares. CEO Jensen Huang holds about 86 million shares in the company, a 3.5% stake.
Meanwhile, Amazon CEO Andy Jassy sold 50,000 shares in Amazon this week for about $9 million. His sale was made as part of a trading plan set up in advance.
Editor’s Note: An earlier version of this article misstated the year Harvey Jones joined the Nvidia board. The article has been updated to reflect that he joined the board in 1993.
