The public will generally learn about insider selling when the relevant regulatory filings are made. Here's how the process typically unfolds:
- Initial Filing: Insiders are required to file a Form 5 statement with the SEC within 10 days of assuming an insider role or becoming the beneficial owner of a company's securities1. This filing indicates their initial acquisition or disposition of securities.
- Ongoing Reporting: Insiders must report any subsequent trades on Form 4, which must be filed within two business days of the transaction2. This filing provides information on each trade made by the insider, including the date, number of shares, and the price.
- Public Availability: These filings are publicly available on the SEC's EDGAR database. The Form 5 statement will indicate the insider's name, the number of shares held, and the date of the filing. The Form 4 filing will provide details of the trade, including the insider's actions.
- Timeliness: The public becomes aware of insider selling when these filings are made. Depending on the timing of the trades and the filing deadlines, the public may learn about insider selling within a few business days of the transactions.
In the case of NVIDIA, if insiders have been selling shares, the public would have become aware of these sales through the relevant SEC filings. The specific details, including the names of the insiders, the number of shares sold, and the dates of the transactions, can be found on the SEC's EDGAR database.