Top 4th of July Sales Best 4K Projectors 7 Early Prime Day Deals Wi-Fi Range Extenders My Favorite Summer Gadgets Cheap Car Insurance Target's 4th of July Sale Best Running Earbuds, Headphones

Nvidia to swap out stock options

Graphics chip leader Nvidia on Thursday announced a stock option exchange plan for employees. The plan would cover about 20.6 million option shares priced at $27 a share or above. Nvidia shares closed at $9.37 Wednesday, off a 52-week high of $72.66.

Employees would receive common stock with a value equal to the number of option shares exchanged multiplied by $3.20. Nvidia said the plan would result in a compensation charge of up to $66 million for the current quarter, which ends Oct. 27.