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- About NVIDIA
NVIDIA's compensation philosophy is centered on four key objectives:
As part of our focus on total compensation, we provide employees with a higher-than-average benefits package1 that includes health, life and disability benefits, employee assistance, discounts, medical leave, and more (see NVIDIA benefits for more information).
1 As based on an annual benchmark from Towers Watson.
-- Jen-Hsun Huang, NVIDIA CEO and President
A key aspect of our compensation program is focused on making employees shareholders in the company through the provision of restricted stock units to all employees, as well as a generous employee stock purchase plan (ESPP). During the past year, 85 percent of employees participated in our ESPP, which brought an average return of approximately 200 percent of funds (as a % of contribution) invested into the program by employees.
In the early portion of this past year, our company’s stock price declined markedly amid the economic downturn, resulting in the majority of employees holding stock options that were significantly underwater. In response, the company offered to purchase these underwater stock options through a tender offer. In total, 91 percent of our employees participated in the tender offer and 86 percent of underwater shares options were exchanged for $78 million in cash.
We believe there is further action we can take to ensure that all employees, in all geographies, better understand their total pay. This gap was highlighted in our 2009 employee survey results. As a result, one of our 2010 goals is to launch a new internal website with enhanced employee education and tools to ensure employees have a better understanding of their pay, as well as how performance is linked to pay.