NVIDIA CORPORATION (NASDAQ:NVDA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Directors adopted the Variable Compensation Plan for Fiscal Year
2018, or the 2018 Plan, which provides eligible executive
officers the opportunity to earn a variable cash payment based on
the level of achievement by us of certain corporate performance
goals, or the Performance Goals, during our fiscal year 2018. We
operate on a fiscal year ending on the last Sunday in January. We
designate our fiscal year by the year in which that fiscal year
ends (e.g., fiscal year 2018 refers to our fiscal year ending
January 28, 2018).
fiscal year 2018 based upon the achievement of specified fiscal
year 2018 revenue and has established threshold, base operating
plan and stretch operating plan levels. An eligible participants
variable cash compensation under the 2018 Plan will be based on
the achievement by NVIDIA of the Performance Goals.
participant must remain an employee through the payment date
under the 2018 Plan to be eligible to earn an award.
amount for our named executive officers under the 2018 Plan:
|
Named Executive Officer
|
Base Operating Plan Payment Amount
|
Base Operating Plan Payment Amount
as a % of
Fiscal Year 2018 Base Salary
|
|
Jen-Hsun Huang
President and Chief Executive Officer
|
$1,100,000
|
110%
|
|
Colette M. Kress
Executive Vice President and Chief Financial Officer
|
$300,000
|
33%
|
|
Ajay K. Puri
Executive Vice President, Worldwide Field Operations
|
$650,000
|
68%
|
|
Debora Shoquist
Executive Vice President, Operations
|
$250,000
|
29%
|
|
Timothy S. Teter
Senior Vice President, General Counsel and Secretary
|
$250,000
|
29%
|
incorporated herein by reference. The foregoing description is
subject to, and qualified in its entirety by, the 2018 Plan.
|
Exhibit Number
|
Description
|
|
|
10.1
|
Variable Compensation Plan – Fiscal Year 2018
|
About NVIDIA CORPORATION (NASDAQ:NVDA)
NVIDIA Corporation (NVIDIA) is engaged in visual computing. The Company operates through segments, including GPU and Tegra Processor. Its GPU businesses include GeForce for personal computer (PC) gaming; Quadro for design professionals working in computer-aided design, video editing, special effects and other creative applications; Tesla for deep learning and accelerated computing, leveraging the parallel computing capabilities of graphics processing units (GPUs) for general purpose computing, and GRID to provide the power of NVIDIA graphics through the cloud and datacenters. The Company’s Tegra processors are primarily designed to enable its branded platforms: DRIVE and SHIELD. Tegra is also sold to original equipment manufacturers (OEMs) for devices. DRIVE automotive computers provide supercomputing capabilities to make driving safer. SHIELD consists of a family of devices designed to harness the power of mobile-cloud to revolutionize gaming. NVIDIA CORPORATION (NASDAQ:NVDA) Recent Trading Information
NVIDIA CORPORATION (NASDAQ:NVDA) closed its last trading session up +2.73 at 101.85 with 19,284,738 shares trading hands.
