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Nicholas Parker joins NVIDIA (NASDAQ: NVDA) as EVP Worldwide Field Operations

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

NVIDIA Corporation reported an upcoming leadership transition in its worldwide field operations. Longtime executive Ajay K. Puri plans to retire from his role as Executive Vice President, Worldwide Field Operations once his successor begins, and is expected to remain as a senior advisor to support a smooth handover.

The company appointed Nicholas ParkerAugust 24, 2026. Parker joins after 26 years at Microsoft, where he held senior sales and partner leadership roles, including Executive Vice President and Chief Business Officer of Microsoft’s Worldwide Sales & Solutions organization.

Parker’s compensation includes a $1,000,000 annual base salary, a $5,000,000 sign-on bonus, and target annual cash variable compensation of $1,500,000 under NVIDIA’s Fiscal 2027 Variable Compensation Plan. He will also receive new hire equity awards: RSUs with a target value of $35,000,000 vesting over about four years and multi-year performance-based RSUs with a target value of $5,000,000 tied to NVIDIA’s total shareholder return versus the S&P 500 over three years.

Positive

  • None.

Negative

  • None.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Annual base salary $1,000,000 Nicholas Parker compensation
Sign-on bonus $5,000,000 Nicholas Parker new hire cash bonus
Target annual cash variable compensation $1,500,000 Fiscal 2027 Variable Compensation Plan, pro-rated
RSU target value $35,000,000 New hire RSUs, vesting over ~4 years
Performance-based RSU target value $5,000,000 MY PSUs tied to TSR vs S&P 500 over three years
Anticipated employment start date August 24, 2026 Nicholas Parker start at NVIDIA
Ajay Puri tenure 21 years Executive tenure at NVIDIA
Nicholas Parker age 55 Age at appointment as EVP Worldwide Field Operations
restricted stock units financial
"Mr. Parker will also receive two new hire equity grants consisting of (a) restricted stock units, or RSUs, with a target value of $35,000,000"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
multi-year performance-based RSUs financial
"and (b) multi-year performance-based RSUs, or MY PSUs, with a target value of $5,000,000"
total shareholder return financial
"which will be eligible to vest based on the Company’s total shareholder return relative to the Standard & Poor’s 500 Composite Index"
Total shareholder return is the overall gain an investor gets from owning a stock, combining changes in the share price plus any cash payouts like dividends, and assuming those payouts are reinvested in more shares. Investors use it like a single score that shows the true return on their investment—similar to checking both the growth of a savings account and the interest earned—to compare how well different companies or investments perform over time.
Equity Incentive Plan financial
"The terms of the RSUs and MY PSUs will be governed by the Company's Amended and Restated 2007 Equity Incentive Plan"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
indemnity agreement regulatory
"Mr. Parker will enter into the Company’s indemnity agreement, which would require the Company to indemnify Mr. Parker"
Worldwide Field Operations financial
"Executive Vice President, Worldwide Field Operations of NVIDIA Corporation"
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Understanding 8-K Material Events →
0001045810false00010458102026-06-282026-06-28

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
______________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 28, 2026
NVIDIA CORPORATION
(Exact name of registrant as specified in its charter)
Delaware0-2398594-3177549
(State or other jurisdiction(Commission(IRS Employer
of incorporation)File Number)Identification No.)
2788 San Tomas Expressway, Santa Clara, CA 95051
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (408) 486-2000
Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.001 par value per shareNVDAThe Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

     Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b)

On June 28, 2026, Ajay K. Puri, Executive Vice President, Worldwide Field Operations of NVIDIA Corporation, or the Company, notified the Company of his intention to retire from his role effective upon the employment commencement date of his successor. Mr. Puri, a 21-year executive at NVIDIA, is expected to remain with the Company in a senior advisory role to ensure a seamless transition to his successor.

(c)

On July 1, 2026, the Company appointed Nicholas Parker, age 55, as Executive Vice President, Worldwide Field Operations of the Company, effective upon the commencement of his employment with the Company, which is anticipated to be on August 24, 2026.

Mr. Parker will join the Company after 26 years at Microsoft Corporation and brings a combination of industry knowledge and business acumen as the Company works to extend its global leadership in AI infrastructure and expand the ecosystem. He most recently served as Executive Vice President and Chief Business Officer of Microsoft’s Worldwide Sales & Solutions organization from 2025 to 2026, where he was responsible for operating the commercial business for enterprise, small and medium business and consumer customers. He also served as President, Industry & Partner Sales from 2022 to 2025, and Vice President, Global Partner Solutions from 2020 to 2022.

Mr. Parker’s annual base salary will be $1,000,000 and he will receive a sign-on bonus of $5,000,000. He will be eligible to receive target annualized cash variable compensation of $1,500,000 pursuant to the Company’s Fiscal 2027 Variable Compensation Plan, pro-rated for his time worked during fiscal year 2027. Mr. Parker will also receive two new hire equity grants consisting of (a) restricted stock units, or RSUs, with a target value of $35,000,000, vesting approximately over a four-year period according to the Company’s standard new hire vesting schedule, and (b) multi-year performance-based RSUs, or MY PSUs, with a target value of $5,000,000, which will be eligible to vest based on the Company’s total shareholder return relative to the Standard & Poor’s 500 Composite Index over a three-year period. The terms of the RSUs and MY PSUs will be governed by the Company's Amended and Restated 2007 Equity Incentive Plan and applicable RSU and MY PSU agreements. Mr. Parker will be eligible to participate in the Company's benefit programs available to similarly situated employees.

Mr. Parker will enter into the Company’s indemnity agreement, which would require the Company to indemnify Mr. Parker, under the circumstances and to the extent provided for therein, against certain expenses and other amounts incurred by Mr. Parker as a result of being made a party to certain actions, suits, proceedings and the like by reason of his position as an officer of the Company.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NVIDIA Corporation
Date: July 2, 2026By: /s/ Colette M. Kress
Colette M. Kress
Executive Vice President and Chief Financial Officer


Source: View Original Filing on SEC EDGAR

FAQ

What executive leadership change did NVIDIA (NVDA) announce in this 8-K?

NVIDIA announced that Ajay K. Puri plans to retire as Executive Vice President, Worldwide Field Operations. He will step down once his successor, Nicholas Parker, begins and is expected to remain as a senior advisor to support a smooth leadership transition in global field operations.

Who is Nicholas Parker and what role will he have at NVIDIA (NVDA)?

Nicholas Parker will become NVIDIA’s Executive Vice President, Worldwide Field Operations. He joins after 26 years at Microsoft, where he held senior sales and partner leadership roles, most recently as Executive Vice President and Chief Business Officer of Microsoft’s Worldwide Sales & Solutions organization.

What is the start date for Nicholas Parker’s employment with NVIDIA (NVDA)?

Nicholas Parker’s employment with NVIDIA is anticipated to begin on August 24, 2026. His appointment as Executive Vice President, Worldwide Field Operations becomes effective upon the commencement of his employment, aligning his leadership start with NVIDIA’s ongoing expansion in AI infrastructure and ecosystem development.

What are the key cash compensation elements for Nicholas Parker at NVIDIA (NVDA)?

Nicholas Parker will receive a $1,000,000 annual base salary and a $5,000,000 sign-on bonus. He is also eligible for target annualized cash variable compensation of $1,500,000 under NVIDIA’s Fiscal 2027 Variable Compensation Plan, pro-rated for his time worked during that fiscal year.

What equity awards will Nicholas Parker receive from NVIDIA (NVDA)?

Nicholas Parker will receive two new hire equity grants: RSUs with a target value of $35,000,000 vesting over about four years, and multi-year performance-based RSUs with a $5,000,000 target value that may vest based on NVIDIA’s total shareholder return versus the S&P 500 over three years.

Under what plans and agreements are Nicholas Parker’s NVIDIA (NVDA) equity awards governed?

Nicholas Parker’s RSUs and multi-year performance-based RSUs are governed by NVIDIA’s Amended and Restated 2007 Equity Incentive Plan. They are also subject to the applicable RSU and MY PSU award agreements, which define vesting schedules, performance conditions, and other detailed terms of his equity compensation.

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