NVIDIA (NASDAQ: NVDA) director Mark Stevens sells 221,682 shares via trust

Rhea-AI Filing Summary

NVIDIA director Mark A. Stevens reported selling 221,682 shares of Common Stock in open-market transactions on March 20, 2026. The sales, executed at weighted average prices of $172.6068 and $174.5685 per share, were made indirectly through the Third Millennium Trust, where he and his wife serve as co-trustees.

After these transactions, the filing shows the trust holding 7,399,771 shares, while a separate Envy Trust holds 15,017,750 shares and Stevens also holds 11,543,401 shares directly. This indicates he retains a substantial multi-million share stake in NVIDIA across direct and trust holdings.

Insights

Insider trading and governance analyst

Large trust-based sale, but Stevens retains substantial NVIDIA exposure.

Director Mark A. Stevens disclosed two open-market sales totaling 221,682 NVIDIA shares on March 20, 2026. The trades occurred at weighted average prices of $172.6068 and $174.5685 per share and were executed indirectly through the Third Millennium Trust.

Footnotes show these are trust-held shares, with Stevens and his wife as co-trustees, plus additional holdings in the Envy Trust and a large direct position. The filing lists 7,399,771 shares in the Third Millennium Trust after the sales, 15,017,750 shares in the Envy Trust, and 11,543,401 shares held directly.

In aggregate, this suggests the reported transactions represent a partial trim of a much larger NVIDIA stake rather than an exit. There are no derivative positions shown in this filing, and no indication the trades were made under a Rule 10b5-1 trading plan in the provided data.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

STEVENS MARK A

(Last) (First) (Middle)

C/O NVIDIA CORPORATION

2788 SAN TOMAS EXPRESSWAY

(Street)

SANTA CLARA CALIFORNIA 95051

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
NVIDIA CORP [ NVDA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/20/2026		S		100,000	D	$172.6068(1)	7,521,453	I	By Trust(2)
Common Stock	03/20/2026		S		121,682	D	$174.5685(3)	7,399,771	I	By Trust(2)
Common Stock								15,017,750	I	By the Envy Trust(4)
Common Stock								11,543,401	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents weighted average sales price. The shares were sold at prices ranging from $172.600 to $172.630. The Reporting Person will provide upon request, to the Securities and Exchange Commission (the "SEC"), the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

2. Held by the Third Millennium Trust, of which the Reporting Person and his wife are co-trustees.

3. Represents weighted average sales price. The shares were sold at prices ranging from $174.310 to $175.005. The Reporting Person will provide upon request, to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

4. Held by the Envy Trust u/a/d December 7, 2021, of which the Reporting Person is trustee.

Remarks:

	/s/ Tina Ashcraft, Attorney-in-Fact for Mark A. Stevens	03/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

How many NVIDIA (NVDA) shares did Mark A. Stevens sell in this Form 4 filing?

Mark A. Stevens reported selling 221,682 shares of NVIDIA Common Stock. These consisted of 100,000 shares at a weighted average price of $172.6068 and 121,682 shares at a weighted average price of $174.5685, all through open-market transactions.

At what prices were the NVIDIA (NVDA) shares sold by Mark A. Stevens?

The filing shows two weighted average sale prices: $172.6068 per share for 100,000 shares and $174.5685 per share for 121,682 shares. Footnotes note actual sale prices ranged from $172.600–$172.630 and $174.310–$175.005, respectively.

Were Mark A. Stevens’ NVIDIA (NVDA) share sales made directly or through a trust?

The reported sales were made indirectly through the Third Millennium Trust. The filing states these shares are held by that trust, with Stevens and his wife serving as co-trustees, rather than being held directly in his personal name.

How many NVIDIA (NVDA) shares does the Third Millennium Trust hold after these sales?

After the reported transactions, the filing lists the Third Millennium Trust holding 7,399,771 NVIDIA shares. This reflects the remaining indirect position in that specific trust following the sale of 221,682 shares on March 20, 2026.

What other NVIDIA (NVDA) holdings associated with Mark A. Stevens are shown in this Form 4?

Beyond the Third Millennium Trust, the filing shows 15,017,750 shares held by the Envy Trust and 11,543,401 shares held directly. Together, these entries indicate a large ongoing NVIDIA ownership position across direct and trust holdings.

Does this NVIDIA (NVDA) Form 4 show any option exercises or derivative transactions for Mark A. Stevens?

No derivative transactions are listed in this Form 4. The transaction summary indicates zero exercises and a derivative transaction count of 0, with activity limited to open-market sales of non-derivative Common Stock and updated holding entries.