Eric Gullichsen, an early adviser to NVIDIA and a virtual reality pioneer, said the company promised him 25,000 stock options in 1993 but granted only 15,625. He also said his option agreement called for full vesting after one year, while NVIDIA applied a four-year vesting schedule instead. After multiple stock splits, the missing 9,375 options would now equal roughly 4.5 million shares. Based on NVIDIA’s Oct. 2 closing price of $233.95, that stake would be worth about $1.05 billion. Gullichsen said NVIDIA has not challenged the authenticity of his agreement documents. The company, through outside law firm Cooley, responded that his claim is barred by the statute of limitations. In California, the general statute of limitations for written contracts is four years. Gullichsen’s lawyer expects the case would be dismissed on timeliness grounds, and for that reason no formal lawsuit has been filed.
According to Techub News, Eric Gullichsen, an early adviser to NVIDIA and a virtual reality pioneer, said the company promised him 25,000 stock options in 1993 but granted only 15,625.
Gullichsen also said the option agreement he holds provided for all of the options to vest after one year. NVIDIA, he said, applied a four-year vesting schedule instead.
After multiple stock splits, the missing 9,375 options would now amount to about 4.5 million shares. Using NVIDIA’s Oct. 2 closing price of $233.95, that position would be worth about $1.05 billion.
Gullichsen said NVIDIA has not disputed the authenticity of his agreement documents. Through outside law firm Cooley, however, the company responded that his claim is outside the statute of limitations. California’s general statute of limitations for written contracts is four years.
Gullichsen’s lawyer expects the case would be dismissed on statute-of-limitations grounds, so no formal lawsuit has been filed.
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