NVIDIA Corporation (NVDA, Financial) has announced a significant addition to its Board of Directors with the appointment of Ellen Ochoa. This strategic move, effective November 7, 2024, increases the number of directors from twelve to thirteen, reflecting NVIDIA's commitment to enhancing its governance and leadership capabilities.
Dr. Ochoa, a distinguished leader, is expected to bring her extensive experience to the Nominating and Corporate Governance Committee of the Board. Her appointment is accompanied by an initial equity grant of 1,848 restricted stock units, which will vest semi-annually over three years. Additionally, she will receive a pro-rated annual equity grant of 1,321 restricted stock units, set to vest on May 21, 2025.
In recognition of her new role, Dr. Ochoa has been awarded a pro-rated annual cash retainer of $53,800, effective from her appointment date. This compensation package aligns with NVIDIA's Amended and Restated 2007 Equity Incentive Plan, underscoring the company's dedication to attracting and retaining top-tier talent.
Furthermore, NVIDIA has entered into an indemnity agreement with Dr. Ochoa, ensuring her protection as she undertakes her responsibilities on the Board. This agreement is part of NVIDIA's broader strategy to maintain robust governance practices and support its directors in their roles.
With Dr. Ochoa's appointment, NVIDIA continues to strengthen its leadership team, positioning the company for sustained growth and innovation in the competitive technology landscape.
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