NVIDIA 2011 Annual Report Download - page 32

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PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF
EQUITY SECURITIES
Our common stock is traded on the NASDAQ Global Select Market under the symbol NVDA. Public trading of our common stock began on January 22,
1999. Prior to that, there was no public market for our common stock. As of March 10, 2011, we had approximately 426 registered stockholders, not including
those shares held in street or nominee name. The following table sets forth for the periods indicated the high and low sales price for our common stock as
quoted on the NASDAQ Global Select Market:
High Low
Fiscal year ending January 29, 2012
First Quarter (through March 10, 2011) $ 26.17 $ 17.90
Fiscal year ended January 30, 2011
Fourth Quarter $ 25.05 $ 11.94
Third Quarter $ 12.36 $ 8.65
Second Quarter $ 15.88 $ 8.92
First Quarter $ 18.34 $ 15.32
Fiscal year ended January 31, 2010
Fourth Quarter $ 18.96 $ 11.56
Third Quarter $ 16.58 $ 12.58
Second Quarter $ 13.04 $ 8.33
First Quarter $ 12.08 $ 7.21
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 2013. 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 Rule 10b-18 of the Securities Exchange Act,
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
2011. Through January 30, 2011, 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 30, 2011, 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 2013.
Additionally, during fiscal year 2011, we granted approximately 5.8 million stock options and 7.1 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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