Summary
NVIDIA Corporation (NVDA) announced the adoption of its Variable Compensation Plan for Fiscal Year 2018 on March 7, 2017. This plan allows eligible executive officers to receive a variable cash payment contingent upon achieving specific corporate performance goals for fiscal year 2018, which ends on January 28, 2018. The performance metrics are primarily tied to achieving specified revenue targets, with defined threshold, base operating plan, and stretch operating plan levels set by the Compensation Committee. This initiative underscores NVIDIA's commitment to aligning executive compensation with company performance and shareholder value creation. The plan details the base operating plan payment amounts for key named executive officers, including CEO Jen-Hsun Huang, CFO Colette M. Kress, and other senior leaders. Eligibility for these payments requires the executive officer to remain employed with NVIDIA through the payment date, demonstrating a focus on retaining key talent and ensuring continued contribution to the company's success.
Key Highlights
- 1NVIDIA adopted its Variable Compensation Plan for Fiscal Year 2018, effective March 7, 2017.
- 2The plan offers variable cash payments to eligible executive officers based on achieving specific corporate performance goals for FY2018.
- 3Performance goals are primarily linked to meeting specified revenue targets.
- 4Threshold, base operating plan, and stretch operating plan levels have been established for FY2018 performance.
- 5The base operating plan payment for CEO Jen-Hsun Huang is $1,100,000, representing 110% of his base salary.
- 6Other named executive officers, including the CFO, have set base operating plan payments and percentages of their base salaries.
- 7Participants must remain employed through the payment date to be eligible for awards under the 2018 Plan.