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.