NVIDIA Corporation
May 23, 2021
The annual proxy for this provider of graphics processing units had the following proposals:
- Proforma votes on directors, appointment of auditors, and compensation
- Board proposal on authorizing additional shares
Newday Impact voted as follows:
- For proforma proposals.
- Directors – The disclosures in the proxy meet the criteria in Newday Impact’s policy on election of directors.
- Auditors – The company meets the criteria in Newday Impact’s policy on auditor ratification.
- Compensation – The disclosures in the proxy meet the criteria in Newday Impact’s policy on the advisory vote.
- For board proposal on authorizing additional shares – The primary purpose in the authorization is to provide shares required to close the deal to acquire Arm. The Arm acquisition makes a lot of sense for NVIDIA shareholders. That said, the path to completing the deal is uncertain as British and U.S. regulators examine the deal (e.g., antitrust considerations, antitrust implications). Should the deal not occur, the authorized, yet unissued Treasury shares may “burn a whole” in the pockets of the board and senior executives. Newday Impact voted in favor of the resolution based on hope that the Arm deal closes.