NVIDIA President and CEO Adopts 10B5-1 Stock Trading Plan
Company Provides Advance Notice of Implementation of Plan for Jen-Hsun Huang to Sell Shares
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FOR IMMEDIATE RELEASESANTA CLARA, CA–DECEMBER 16, 2005–NVIDIA Corporation (Nasdaq: NVDA) today announced that Jen-Hsun Huang, president and chief executive officer, adopted a personal stock trading plan in December 2005, pursuant to, and intended to comply with, Rule 10b5-1 under the Securities Exchange Act of 1934.
Under the stock trading plan, Mr. Huang, 42 years of age, plans to sell up to 2.0 million shares of NVIDIA common stock over a period of approximately 21 months, commencing March 2006, as part of a strategy for personal financial and estate planning purposes. Sales will continue at roughly quarterly intervals until a planned last sale in December 2007.
Rule 10b5-1 allows corporate officers and directors to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. NVIDIA corporate policy allows employees to enter into pre-arranged stock trading plans so long as they are intended to comply with Rule 10b5-1. Other NVIDIA executives may enter into similar trading plans in the future. Shares to be sold under the Rule 10b5-1 plan adopted by Mr. Huang represent approximately 17.5 percent of his personal holdings of NVIDIA common stock, including his vested stock options, as of today’s date. Mr. Huang also announced that approximately 250,000 of the shares of NVIDIA common stock sold will be designated for charitable interests.
Transactions under this plan will be disclosed publicly through Form 144 and Form 4 filings as required by the SEC.
Certain statements in this press release including, but not limited to, the timing of sales to be made under Mr. Huang’s sales plan, filings to be made with the Securities and Exchange Commission and the number of shares to be sold are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Such risks and uncertainties include, but are not limited to, changes Mr. Huang may make to his sales plan at a time when he is not in possession of material, non-public information, suspension or termination of the sales plan by either Mr. Huang or his agent, and other risks detailed from time to time in the reports NVIDIA files with the Securities and Exchange Commission including its Form 10-Q for its quarter ended October 30, 2005. These forward-looking statements are not guarantees of future performance and speak only as of the date of this release. NVIDIA disclaims any obligation to update these forward-looking statements.
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