Summary
NVIDIA Corporation (NVDA) filed an 8-K on April 4, 2007, to report the approval of its Fiscal Year 2008 Variable Compensation Plan by its Compensation Committee on March 30, 2007. This plan is designed to provide variable cash compensation to key employees, including the CEO, senior officers, vice presidents, directors, managers, and qualifying senior contributors. The compensation structure is weighted equally between corporate performance targets (primarily adjusted net income) and individual performance targets, with potential payouts ranging from threshold to a maximum of 200% of the target award for corporate achievement.
Key Highlights
- 1NVIDIA approved a Variable Compensation Plan for Fiscal Year 2008.
- 2The plan targets cash compensation for a broad range of employees, from senior executives to managers and senior contributors.
- 3Compensation is split 50/50 between achieving corporate performance targets and individual performance targets.
- 4Corporate performance metrics are primarily based on adjusted net income levels.
- 5Individual targets are set by management and the Compensation Committee depending on the employee's role.
- 6The Compensation Committee and Board of Directors retain the discretion to modify targets or grant additional compensation.
- 7The full Variable Compensation Plan document is filed as an exhibit to the 8-K.