Form 4: NVIDIA Director Mark Stevens Receives Stock Grant, Maintains Significant Holdings

NVIDIA director Mark Stevens received a grant of 2,088 shares of common stock as part of his annual compensation, while maintaining significant holdings through various trusts.

Summary

• Mark Stevens, a director at NVIDIA, received 2,088 shares of common stock as an annual grant for his service on the Board of Directors.
• These shares are in the form of restricted stock units, which will vest in two tranches: 50% on November 20, 2024, and the remaining 50% on May 21, 2025.
• The grant will fully vest immediately if Mr. Stevens' service as a director terminates due to death.
• Following this transaction, Mr. Stevens directly owns 12,920,618 shares and indirectly owns 17,251,950 shares through the Envy Trust and 9,526,240 shares through The 3rd Millennium Trust.
• The Envy Trust is managed by Mr. Stevens as trustee, and The 3rd Millennium Trust is co-managed by Mr. Stevens and his wife.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of stock grants to a director, which is a normal part of corporate governance. The significant holdings of the director indicate confidence in the company.

Positives

• The grant of restricted stock units aligns Mr. Stevens' interests with the long-term performance of NVIDIA.
• The vesting schedule encourages continued service on the board.
• The significant holdings demonstrate Mr. Stevens' continued confidence in NVIDIA's future.

Industry Context

This filing is a routine disclosure of stock grants to a company director, which is common practice in publicly traded companies to align management interests with shareholder value. It is typical for directors to receive stock-based compensation as part of their overall remuneration.

Comparison to Industry Standards

• Stock grants to directors are a standard practice across the technology industry, with companies like Apple, Microsoft, and Google also using similar compensation methods.
• The vesting schedule of the restricted stock units is also typical, often spread over a few years to encourage long-term commitment.
• The level of ownership by Mr. Stevens is significant, which is not uncommon for long-serving board members or those with substantial prior holdings.

Stakeholder Impact

• The stock grant to a director is a standard practice and is unlikely to have a significant impact on stakeholders.
• The significant holdings of the director demonstrate confidence in the company, which can be viewed positively by shareholders.

Key Dates

Keywords

NVIDIA, Mark Stevens, stock grant, restricted stock units, beneficial ownership, director, trust, NVDA