A longtime Nvidia board member is cashing in on the success of the chipmaker’s stock this year, which pushed the value of the company to over $1 trillion, selling more than 100,000 shares worth more than $50 million, according to a regulatory filing.
Mark Stevens, who’s been on the company’s board since 2008, joins a pair of other Nvidia directors benefiting from the steep rise in share value of nearly 200%. According to the Wednesday filing with the SEC, Stevens unloaded 118,602 shares of Nvidia over recent trading sessions.
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At a price range between $429.90 and $434.20 for the company shares, Stevens took in just over $51 million from the sales. Despite the sale, Stevens still owns over one million shares of Nvidia in a trust he shares with his wife, along with 1.98 million shares in another trust and 1.29 million shares he owns directly.
Jensen Huang, CEO of NVIDIA, speaks during a press conference at the Computex 2023 in Taipei on May 30, 2023. ((Photo by SAM YEH/AFP via Getty Images) / Getty Images)
Meanwhile, FactSet listed Stevens as the second-largest stakeholder investor in Nvidia before his recent sell. Jensen Huang, the company’s co-founder and chief executive, remains the company’s largest shareholder.
Last week, Nvidia board member Tench Coxe pocketed $21 million from selling some of his stock, after pulling in $38 million from a sell in June.
Nvidia board member Harvey Jones also took advantage of the rising stock price last week, selling over $48 million worth after selling more than $28 million earlier in the month.
With the run up in Nvidia shares the company's market value crossed over $1 trillion joining a small but exclusive group of companies including Apple, Microsoft, Amazon and Microsoft.