SANTA CLARA, CA - NVIDIA Corporation (NASDAQ:NVDA) has announced the appointment of Dr. Ellen Ochoa to its Board of Directors, effective today. With Dr. Ochoa's appointment, the Board will expand from twelve to thirteen members.
Dr. Ochoa will also join the Nominating and Corporate Governance Committee. As part of her compensation, NVIDIA has granted Dr. Ochoa 1,848 restricted stock units (RSUs) that will vest semi-annually over three years. Additionally, she will receive a pro-rated annual equity grant of 1,321 RSUs, set to vest on May 21, 2025. Dr. Ochoa's compensation package also includes a pro-rated annual cash retainer of $53,800, starting from the date of her appointment.
These equity grants are made under NVIDIA's Amended and Restated 2007 Equity Incentive Plan, which was detailed in the company's Quarterly Report filed on August 28, 2024. Furthermore, NVIDIA has entered into an indemnity agreement with Dr. Ochoa, a standard practice for board members, based on a form filed with the SEC on March 7, 2006.
The announcement was made through an 8-K filing with the Securities and Exchange Commission, which serves as the primary source of information for this news. NVIDIA, headquartered in Santa Clara, California, is a leading company in the semiconductor and related devices industry, known for its graphics processing units (GPUs) for the gaming and professional markets, as well as system on a chip units (SoCs) for the mobile computing and automotive market.
In other recent news, NVIDIA has expanded its board of directors to 13 members with the addition of Ellen Ochoa, the first Latina astronaut and former director of NASA's Johnson Space Center. This move is part of NVIDIA's ongoing efforts to strengthen its board's expertise. In financial developments, Arm Holdings (NASDAQ:ARM)' third-quarter earnings per share are expected to land between 32 to 36 cents, meeting Wall Street forecasts. Bob O'Donnell from TECHnalysis Research provided analysis on the situation.
Meanwhile, Perplexity, an artificial intelligence startup, is seeking $500 million in funding, potentially raising its valuation to $9 billion. This follows a lawsuit filed against the company by News Corp-owned publishers and a cease and desist notice from The New York Times (NYSE:NYT). NVIDIA and Taiwan Semiconductor Manufacturing Company (TSMC) experienced significant increases in market value due to rising demand for AI chips, according to the chief investment officer at UBS Global Wealth Management.
On the legal front, both NVIDIA and Meta Platforms Inc (NASDAQ:META).'s Facebook are requesting the U.S. Supreme Court to dismiss federal securities fraud lawsuits. Both companies are facing class action lawsuits related to alleged violations of federal regulations.
InvestingPro Insights
NVIDIA's appointment of Dr. Ellen Ochoa to its Board of Directors comes at a time when the company is experiencing remarkable growth and financial performance. According to InvestingPro data, NVIDIA's revenue has grown by an impressive 194.69% over the last twelve months, reaching $96.31 billion. This growth is reflected in the company's stock performance, with a one-year price total return of 216.95% as of the latest data.
The company's strong financial position is further underscored by its gross profit margin of 75.98% and operating income margin of 61.87% for the same period. These figures align with an InvestingPro Tip highlighting NVIDIA's impressive gross profit margins.
Another relevant InvestingPro Tip notes that NVIDIA is a prominent player in the Semiconductors & Semiconductor Equipment industry. This status is supported by the company's substantial market capitalization of $3.65 trillion, positioning it as a leader in its sector.
For investors seeking more comprehensive analysis, InvestingPro offers 24 additional tips for NVIDIA, providing a deeper understanding of the company's financial health and market position.
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