NVIDIA 2010 Annual Report Download - page 46

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Dividend Policy
We have never paid and do not expect to pay cash dividends for the foreseeable future.
Issuer Purchases of Equity Securities
Our Board of Directors has authorized us, subject to certain specifications, to repurchase shares of our common stock up to an
aggregate maximum amount of $2.7 billion through May 2010. The repurchases will be made from time to time in the open market, in
privately negotiated transactions, or in structured stock repurchase programs, and may be made in one or more larger repurchases, in
compliance with the Securities Exchange Act of 1934 Rule 10b-18, subject to market conditions, applicable legal requirements, and
other factors. The program does not obligate NVIDIA to acquire any particular amount of common stock and the program may be
suspended at any time at our discretion. As part of our share repurchase program, we have entered into, and we may continue to enter
into, structured share repurchase transactions with financial institutions. These agreements generally require that we make an up-front
payment in exchange for the right to receive a fixed number of shares of our common stock upon execution of the agreement, and a
potential incremental number of shares of our common stock, within a pre-determined range, at the end of the term of the agreement.
We did not enter into any structured share repurchase transactions or otherwise purchase any shares of our common stock during
fiscal year 2010. Through January 31, 2010, we have repurchased an aggregate of 90.9 million shares under our stock repurchase
program for a total cost of $1.46 billion. As of January 31, 2010, we are authorized, subject to certain specifications, to repurchase
shares of our common stock up to an additional amount of $1.24 billion through May 2010.
Additionally, during fiscal year 2010, we granted approximately 7.7 million stock options and 7.7 million restricted stock units, or
RSUs, under the 2007 Equity Incentive Plan. Please refer to Note 3 of the Notes to the Consolidated Financial Statements in Part IV,
Item 15 of this Form 10-K for further information regarding stock-based compensation related to our March 2009 stock option
purchase and related to equity awards granted under our equity incentive programs.
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Source: NVIDIA CORP, 10-K, March 18, 2010 Powered by Morningstar® Document Research℠