Key points
- Nvidia director sold about $300 million more
- His third sale filing in three weeks
- No Rule 10b5-1 plan reported in the three filings
Nvidia (NVDA) director Mark Stevens reported another stock sale worth about $300 million, bringing the total across his three sale filings in three weeks to about $946 million.
The latest Form 4, filed September 22, reports that he sold 1,366,000 shares on September 18 at weighted-average prices of about $219.72 and $220.42. All came from the Third Millennium Trust, for which Stevens and his wife serve as co-trustees.
We covered the first sale report, which disclosed $410.8 million across late August and early September. A second filing on September 8 reported about $235 million more. The three filings together report about $946 million in sales. All three appear on our insider tracker. Counting his earlier 2026 filings, his disclosed Nvidia sales for the year come to about $1.39 billion.
None of the three filings checks the Rule 10b5-1 box, which identifies transactions reported under a prearranged trading plan. That tells us these sales weren't reported under such a plan. It doesn't establish who chose the sale dates or why Stevens sold.
He still holds a substantial Nvidia position. After the September 18 sale, the filing lists about 27.5 million shares: around 11.5 million held directly, 15 million through the Envy Trust, and just under a million through the Third Millennium Trust.
Nvidia closed at $227.38 on September 21, above Stevens' sale prices near $220. At that closing price, his remaining reported holdings were worth about $6.3 billion.
The scale of the selling is worth following. The motive is still unknown. Sales from a family trust can serve estate planning, diversification, or spending needs unrelated to the company's prospects. The Form 4 doesn't identify a reason, so it can't tell us whether Stevens' view of Nvidia has changed.
You can follow his transactions and those of other Nvidia insiders on our NVDA page.
