The company said its board appointed Lip-Bu Tan as Chief Executive Officer and a director on March 10, 2025, effective March 18, 2025. Tan served as an Intel director from September 2022 to August 2024.

1. 01

   The company said its board appointed Lip-Bu Tan as Chief Executive Officer and a director on March 10, 2025, effective March 18, 2025. Tan served as an Intel director from September 2022 to August 2024.

2. 02

   Intel said it offered Tan an initial base salary of $1,000,000 and an annual incentive cash bonus with a target payout of 200% of his base salary. The company said Tan will also receive, under long-term incentive awards for 2025, TSR PSUs with a target value of $14,400,000 and stock options with a grant date value of $9,600,000.

3. 03

   Intel said it will grant new hire equity awards consisting of performance-based stock options with a grant date value of $25,000,000 and performance stock units with a target value of $17,000,000. Tan agreed to buy Intel shares within 30 days after his employment start date, with a target value of $25,000,000.

4. 04

   Intel said Michelle Johnston Holthaus and David Zinsner will cease to serve as Interim Co-Chief Executive Officers as of the effective date. Frank D. Yeary will cease to be Interim Executive Chair and return to being the independent Chair of the Board. For his service as Interim Executive Chair, Yeary will receive restricted stock units with a target value of $700,000.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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