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Intel Corp. amends CEO Pat Gelsinger's stock awards package - Phoenix Business Journal

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Since Intel hired Gelsinger in 2021, Intel's share prices have sunk with investors' concerns about his turnaround plans for the chipmaker. phoenix

Intel Corp. said in a filing this week it would alter the CEO Pat Gelsinger's stock awards, changing the metrics for him to earn stock awards.

The changes"increase the stock price performance hurdles for certain awards" and"provide even greater alignment with stockholders by lengthening the period during which stock price performance hurdles must be maintained." According to Intel's SEC filing Tuesday, Gelsinger's amended compensation raises the threshold for Gelsinger's performance-based awards. Among other changes, the amendments increase the share price growth target from 30% appreciation to 50%, change the time when part of his awards will be vest from three years to five years, and increase the number of trading days target prices need to be maintained.

Since Intel hired Gelsinger in 2021, Intel's share prices have sunk with investors' concerns about his turnaround plans for the chipmaker. Shares closed at $29.82 Wednesday, compared with the $64.54 baseline price in Gelsinger's awards package. Since taking over Intel's leadership, Gelsinger has pursued a plan to restore the company's manufacturing edge, investing billions to double the size of the company's

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