What is the primary purpose of this 10-K/A filing?

This filing is an Amendment No. 1 to NVIDIA's Form 10-K for the fiscal year ended January 25, 2004. It is being filed specifically to amend and provide additional information for Part III of the original report, which covers details on directors, executive officers, executive compensation, security ownership, related party transactions, and principal accountant fees and services.

How is executive compensation structured at NVIDIA, based on this filing?

Executive compensation appears to be heavily weighted towards long-term incentives, primarily through stock options. The filing includes a Summary Compensation Table showing salary and option grants for the Named Executive Officers. Detailed tables break down option grants in fiscal year 2004, including potential realizable values based on assumed stock price appreciation, and also report on the value of unexercised options held by executives as of the fiscal year-end.

Who are the principal owners of NVIDIA stock, and how much do they own?

As of March 15, 2004, the filing identifies two major beneficial owners: FMR Corporation, which holds approximately 12.2% of the common stock, and AXA Financial, Inc., which holds approximately 6.3% of the common stock. The executive officers and directors as a group beneficially own approximately 10.7% of the company's outstanding common stock.

Has NVIDIA's relationship with its independent auditor changed?

Yes, the filing states that in April 2004, NVIDIA announced that its Audit Committee had dismissed KPMG LLP as its independent auditor and engaged PricewaterhouseCoopers LLP as its new independent auditors. Fees paid to KPMG LLP for fiscal years 2003 and 2004 are detailed in the report.

NVDA 10-K FY2004 Annual Report — Revenue, Net Income, EPS

Summary

This filing is an amendment (10-K/A) to NVIDIA Corporation's Annual Report for the fiscal year ended January 25, 2004. The amendment specifically addresses Part III of the report, covering executive officers, compensation, security ownership, related party transactions, and principal accountant fees. The company's leadership team includes co-founder Jen-Hsun Huang as President and CEO. Executive compensation appears to be heavily weighted towards stock options, with detailed tables showing grants, exercisable options, and potential future values based on stock appreciation. Key financial oversight is managed by an independent Audit Committee, with A. Brooke Seawell identified as an "audit committee financial expert." The report also details the fees paid to their independent auditor, KPMG LLP, for the fiscal years 2003 and 2004. Notably, NVIDIA announced in April 2004 that it had dismissed KPMG LLP and engaged PricewaterhouseCoopers LLP as its new independent auditors.

Key Highlights

1The filing is an amendment to the FY2004 10-K, focusing on Part III details including executive compensation, directors, and principal accountant fees.
2Jen-Hsun Huang, co-founder, serves as President and CEO, with significant stock option grants detailed.
3Executive compensation relies heavily on stock options, with detailed tables on grants, vesting schedules, and potential realizable values under various stock appreciation scenarios.
4Non-employee directors receive compensation primarily through stock options, with specific initial and annual grant structures outlined.
5The company's Audit Committee is composed of independent directors, and A. Brooke Seawell is designated as an audit committee financial expert.
6KPMG LLP served as the independent auditor for FY2004 and FY2003, with fees broken down by service category. However, NVIDIA transitioned to PricewaterhouseCoopers LLP in April 2004.
7Detailed security ownership information is provided for directors, executive officers, and major shareholders (FMR Corp. and AXA Financial, Inc. are significant institutional holders).

NVIDIA CORP Annual Report (Amendment), Year Ended Jan 25, 2004

Summary

Key Highlights

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