secwatch.observer — SEC 8-K summary
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Issuer:     INTEL CORP (INTC)
CIK:        0000050863
Form:       8-K
Filed at:   2022-11-22T23:59:59+00:00
Accession:  0001193125-22-290385
Event type: leadership
Sentiment:  positive
Materiality: 0.65
Item codes: 5.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Intel elects BlackRock co-founder Novick to board; tightens CEO equity hurdles and NEO comp program
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- Barbara G. Novick, BlackRock co-founder, elected to Intel board effective Dec 1, 2022 as independent director.
- CEO Gelsinger's performance options hurdle raised from 30% ($64.54) to 50% ($74.47); maintenance period extended to 90 days.
- Strategic Growth and Outperformance PSUs: removed 3-year vesting, now vest at 5-year anniversary only if hurdle met; maintenance 90 days.
- NEO LTI mix shifted to 60% PSUs/40% RSUs for non-CEO (previously 50/50); RSU vesting changed to 3 annual installments.
- Commitments: by 2025 PSUs based on multi-year goals; no future new-hire solely stock-price based; cap at 100% if goals modified.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/50863/000119312522290385/0001193125-22-290385-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/50863/000119312522290385/d310344d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-290385

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