Nvidia employees get richer with stock boost named after CEO Jensen Huang
By Ryan General
15 days ago
Chipmaker Nvidia is giving a significant stock boost to its employees to share its massive success.
Key points:
- Under the “Jensen Special Grant,” Nvidia employees receive an additional 25% of their initial stock grant, reported Business Insider.
- Named after CEO Jensen Huang, the grant is given on top of employees’ regular performance-based equity refreshers.
- The move could be intended to retain employees even if Nvidia’s stock price eventually falls.
The details:
- Nvidia has become a leader in the artificial intelligence (AI) chip market, seeing its stock price soar by more than 200% over the past 12 months.
- The grant vests in equal installments over four years, with the first portion vesting on Sept. 18.
- The number of shares granted is linked to Nvidia’s March 2023 share price (around $898). Under the one-time grant, employees with stock options worth $200,000 will get an additional $50,000 in restricted stock units.
- Sources suggest Nvidia aims to reward employees even if the stock price dips as competition in the AI space ramps up.
Tangent:
- Nvidia CEO Jensen Huang is one of the world’s wealthiest people, with a net worth of approximately $78.1 billion.
- With its current market value of $2.2 trillion, Nvidia trails only Microsoft ($3.14 trillion) and Apple ($2.71 trillion).
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