Yes Ladies and Gentlemen, It's Up To Project Shield
Think about it. We are 4+ months after the Tegra 4 announcement and we have zero, yes zip, Tegra 4 products shipping. But we have Project Shield due in a month or so. But alas Nvidia's CEO said and I quote,
"I have no expectations about Project Shield and neither should you!"
Stock buyback in process. $100M last quarter, $100M in Q1. and $600M over 2Q, 3Q, and 4Q.So what's the complaint. Perhaps, Nvidia should announce how many new shares will be issued to employees. Based on past performance at least half of the buyback will be negated by employee options and management RSU!
It's very hard to keep 35 Senior Vice Presidents satisfied.
"During fiscal years 2013, 2012 and 2011, we granted approximately 7.1 million, 6.4 million and 5.8 million stock options, respectively, with estimated total grant-date fair values of $38.3 million, $52.4 million and $34.4 million, respectively, and weighted average grant-date fair values of $5.38, $8.16 and $5.89 per option, respectively. During fiscal years 2013, 2012 and 2011, we granted approximately 8.1 million, 7.3 million and 7.1 million RSUs, respectively, with estimated total grant-date fair values of $112.8 million, $119.7 million and $96.7 million, respectively, and weighted average grant-date fair values of $13.86, $16.31 and $13.61 per RSU, respectively."
If you are a Nvidia employee you gotta love those RSUs. Stock doesn't even have to go up and yes, your always in the money because your basis is ZERO. Gee is that aligning with shareholder values. I don't know, but I have to ask where is the incentive with all these RSUs.
Perhaps it takes these things to keep all those Senior VP's and the CEO happy.