NASDAQ AI Infrastructure Executive Automatically Sells $8 Million in Stock for RSU Vesting Tax

Nebius Group N.V. (NBIS) disclosed that its Chief Infrastructure Officer, Andrey Korolenko, automatically sold 33,871 Class A shares on July 1 to cover withholding taxes arising from RSU vesting. The shares were sold at an average price of $235.45 each, generating total proceeds of approximately $7.98 million (around KRW 11.2 billion). After the transaction, Korolenko still holds about 550,000 Class A shares. In its filing, the company emphasized that this sale was an automatic disposition to satisfy RSU-related tax obligations and not an executive’s discretionary stock sale.

Since March, Nebius has been rapidly expanding its AI cloud infrastructure business—securing a $2 billion strategic investment from NVIDIA and announcing large-scale AI infrastructure build-outs in Israel and the U.S. In February, it acquired AI search startup Tavili and unveiled plans to construct an AI factory in Birmingham, Alabama, extending its reach across the AI ecosystem.

Formerly Yandex N.V., the Dutch holding company of Russia’s Yandex search business, Nebius rebranded in 2024 after divesting its Russian assets and refocusing on AI infrastructure. Listed on NASDAQ under the ticker NBIS, the company is headquartered near Schiphol Airport in the Netherlands. It operates large GPU clusters and an AI cloud platform and oversees several tech subsidiaries, including the education platform TripleTen and autonomous-driving firm Avride.