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NVIDIA | 8-K: Announced the Adoption of a New Variable Compensation Plan for Fiscal Year 2025 and Amended and Restated the Company's Bylaws

SEC announcement · Mar 14 16:33

NVDA +6.18%

Summary by Moomoo AI

NVIDIA Corporation has announced the adoption of a new Variable Compensation Plan for Fiscal Year 2025, which was approved by the Compensation Committee of the Board of Directors on March 8, 2024. The plan is designed to provide eligible executive officers with the opportunity to earn variable cash payments based on the achievement of specific corporate performance goals related to the company's fiscal year 2025 revenue. The fiscal year for NVIDIA ends on the last Sunday in January, with fiscal year 2025 ending on January 26, 2025. The performance goals include threshold, base, and stretch compensation plan levels, with the base compensation plan offering significant target award opportunities for named executive officers, including President and CEO Jen-Hsun Huang, who has a target award of $3 million, representing 200% of his base salary. Additionally, NVIDIA's Board amended and restated the company's Bylaws on March 12, 2024, which, among other changes, now allows stockholders with at least 15% voting power and one year of continuous ownership to call a special meeting. The amendments also align with recent changes to the Delaware General Corporation Law and include technical updates.

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