Summary
NVIDIA Corporation (NVDA) announced on July 13, 2020, the appointment of John Dabiri to its Board of Directors. This appointment is a significant governance update that investors should note as the company continues to grow and navigate complex markets. In conjunction with his board service, Mr. Dabiri received an initial restricted stock unit grant vesting over three years and a pro-rated annual equity grant with vesting scheduled for November 2020 and May 2021. He was also granted a pro-rated annual cash retainer. These compensation arrangements align with typical board member incentives and indicate a commitment to attracting and retaining experienced leadership. The company also entered into a standard indemnity agreement with Mr. Dabiri.
Key Highlights
- 1John Dabiri appointed to NVIDIA's Board of Directors as of July 13, 2020.
- 2Mr. Dabiri received an initial equity grant of 620 restricted stock units (RSUs).
- 3The initial RSUs vest semi-annually over a three-year period.
- 4Mr. Dabiri was also granted a pro-rated annual equity grant of 633 RSUs with specific vesting dates in November 2020 and May 2021.
- 5A pro-rated annual cash retainer of $66,780 was awarded to Mr. Dabiri, starting July 13, 2020.
- 6An indemnity agreement has been entered into with Mr. Dabiri for his board service.
- 7The equity grants are made under NVIDIA's 2007 Amended and Restated Equity Incentive Plan.