---
schema_version: "secwatch.filing_event.v1"
accession: "0000050863-23-000092"
form_type: "8-K"
ticker: "INTC"
cik: "0000050863"
company_name: "INTEL CORP"
filed_at: "2023-10-05T23:59:59+00:00"
generated_at: "2026-06-10T04:21:08.959190+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Intel to separate Programmable Solutions Group as standalone business; plans IPO; appoints Sandra Rivera as CEO

## Summary
- Intel intends to separate PSG into standalone business effective Jan 1, 2024; plans IPO in 2-3 years retaining majority stake.
- Sandra Rivera appointed CEO of PSG, continuing to lead DCAI until successor found; Shannon Poulin named COO.
- Rivera receives base salary $900k, target bonus 150%, LTI equity ~$11.25M, and staking grants ~$25M in PSG equity.
- Intel will report PSG as separate business unit in Q1 2024 financials; FPGA market expected to grow at >9% CAGR to $11.5B by 2027.

## SEC filing metadata
- accession: 0000050863-23-000092
- form_type: 8-K
- ticker: INTC
- cik: 0000050863
- company_name: INTEL CORP
- filed_at: 2023-10-05T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/50863/000005086323000092/0000050863-23-000092-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/50863/000005086323000092/intc-20231002.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000050863-23-000092
- JSON: https://secwatch.observer/filing/0000050863-23-000092.json
- Plain text: https://secwatch.observer/filing/0000050863-23-000092.txt

## Key facts
- Executive change
  Sandra L. Rivera was appointed as Chief Executive Officer of Programmable Solutions Group at INTEL CORP.
  - Action: appointed
  - Role: Chief Executive Officer of Programmable Solutions Group
  source text: On October 3, 2023, Intel Corporation (“Intel”) announced that Sandra L. Rivera will assume the role of Chief Executive Officer of Programmable Solutions Group (“PSG”), an Intel standalone business, and the effective date of this transition (“Effective Date”) is anticipated to occur on January 1, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/50863/000005086323000092/0000050863-23-000092-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.