NVIDIA CORP Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by NVIDIA Corporation on March 13, 2018, covering events occurring on March 7, 2018. The filing details the adoption of the Variable Compensation Plan for Fiscal Year 2019 (ending January 27, 2019) by the Compensation Committee of the Board of Directors.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity figures. It focuses exclusively on executive compensation structures.
Material Changes
The primary material change is the establishment of the 2019 Variable Compensation Plan. This plan ties variable cash payments for eligible executive officers to the achievement of specified corporate performance goals, primarily based on fiscal year 2019 revenue targets. The plan includes threshold, base operating plan, and stretch operating plan levels.
Guidance, Outlook, and Management Commentary
Management has set performance goals for fiscal year 2019 based on revenue achievement. The filing notes that participants must remain employees through the payment date to be eligible for awards. No specific revenue guidance numbers or risk factors regarding market conditions are disclosed in this specific report.
Executive Compensation Targets
| Named Executive Officer | Title | Target Award Opportunity | % of FY2019 Base Salary |
|---|---|---|---|
| Jen-Hsun Huang | President and CEO | $1,100,000 | 110% |
| Colette M. Kress | EVP and CFO | $300,000 | 33% |
| Ajay K. Puri | EVP, Worldwide Field Operations | $650,000 | 68% |
| Debora Shoquist | EVP, Operations | $250,000 | 29% |
| Timothy S. Teter | EVP, General Counsel and Secretary | $250,000 | 29% |
Key Facts for Investor Verification
- The specific revenue thresholds for the "threshold," "base," and "stretch" performance goals are not disclosed in this filing; they are contained in the full plan text (Exhibit 10.1).
- Eligibility for the variable cash award is contingent upon the executive remaining employed through the payment date.
- The plan is effective for the fiscal year ending January 27, 2019.
- No financial performance data for the current or prior periods is included in this report.