Heard’s sale of 275,000 shares may indeed be a completely realistic tax-related consequence, considering the stock awards Heard received in the US last year and this year (which are taxed as earned income in the US). Even if Heard knew that positive news regarding the collaboration between Nokia and Nvidia is coming this spring (the “interesting concepts” mentioned by Hotard in the HS interview), it could be difficult for him to time the sale of shares in a way that wouldn’t be seen as violating insider rules or a quiet period. Therefore, selling immediately after the shares vest could be the safest way to ensure tax payments. It is possible that the company withheld the shares or that it occurred according to a pre-arranged plan (a 10b5-1 type trading plan) to cover taxes.
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