老黄最近大卖特卖，完全是按他在今年 3 月 14 日上报的 10b5-1 规则计划进行的。

老黄可能有很多原因要卖出股票，比如付税，买房，买游艇。。但是 Insider 卖股通常和股价走势没有必然联系。 

今年到目前为止，老黄卖出股票的比例占他个人持股的 0.7%左右， 不到1%。昨天我说 “银行里有100块存款，拿出1块钱来花” 指的就是这个.

NVDA 股价最近下跌，有很多原因，包括 Blackwall 延迟，DOJ 调查，对 AI ROI 的质疑，经济下行时大厂对 AI 的投资可能减少，等等。
 

简单说一下10b5-1 规则
10b5-1 规则生效前，公司的 Insider 一年内只能在4个非常小的窗口才能出售股票。

有了10b5-1 规则，通过设立10b5-1计划，Insider 全年都可以出售股票，包含封窗期的时间段。

10b5-1 计划的几个例子 - 
Sell 500,000 shares of XYZ at a price of $50 or better with a maximum of 50,000 shares sold in any given trading day 
Sell 1,000,000 shares of ABC in total, 250,000 shares at a limit price of $40, 250,000 shares at a limit price of $42, 250,000 shares at a limit price of $44, and 250,000 shares at a limit price of $46 
Exercise an incentive stock option for 20,000 shares of LMN if the stock’s market price exceeds the option’s strike price by $20 
Execute a two year variable prepaid forward contract with a 100% floor and 120% cap on 250,000 shares of GHI as long as the upfront payment on the contract exceeds 84% and the stock is above $40 
Sell an amount of stock resulting in total proceeds net of commissions that approximates the published semester tuition rate for the University of Higher Education on December 1, 2011