Nvidia CEO Jensen Huang saw his pay jump 60% last year, topping what rivals made

By Emily Bary

Huang saw a big boost in his security expenses during the latest fiscal year

Nvidia Corp. Chief Executive Jensen Huang got a 60% pay bump last year, recent disclosures from the company show.

Huang's total compensation for fiscal 2024 was $34.2 million, according to the latest proxy filing, which came out Tuesday afternoon. That's above the $21.4 million he booked for fiscal 2023 and the $23.7 million that he received in 2022. The sizable boost in pay came even as Huang's base salary stayed relatively constant at just under $1 million.

Stock awards were one component of Huang's pay increase for fiscal 2024, which ended in January and brought a roughly 200% stock-price increase for Nvidia (NVDA). The latest annual batch of stock awards totaled $26.7 million, up from $19.7 million a year before.

See also: Nvidia's stock can soar 50% more as earnings power still isn't priced in, says analyst

Huang also booked $4 million in non-equity incentive plan compensation, which he didn't receive in fiscal 2023 but did also get in fiscal 2022. Nvidia noted that company revenue for fiscal 2024 exceeded the "stretch compensation plan goal," enabling Huang to receive a payout of this amount.

His compensation also included about $2.5 million from "other" sources, largely relating to private security. Roughly $2.2 million of that total is tied to security, consultation, monitoring and car and driver services. Other compensation was under $700,000 the year before.

"Due to the high profile of our CEO, and in accordance with the independently-assessed executive security program established by our Board, Nvidia provides Mr. Huang with security protection," Nvidia said in its proxy filing.

The company also noted that during the prior fiscal year, Huang only saw a partial year of residential-security benefits and undertook "limited travel."

Huang saw a bigger payday than his counterparts at Advanced Micro Devices Inc. (AMD) and Intel Corp. (INTC) did. AMD CEO Lisa Su booked $30.4 million in total compensation for 2023, while Intel CEO Pat Gelsinger saw $16.9 million.

Read: AMD CEO Lisa Su earned nearly double what Intel CEO Pat Gelsinger did in 2023

-Emily Bary

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05-14-24 1716ET

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