INTEL CORPORATION (NASDAQ:INTC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
| (d) | Election of New Directors |
On March21, 2017, the Board of Directors (the Board) of Intel
Corporation (Intel) elected Omar Ishrak as a member of the Board,
effective immediately, and elected Gregory D. Smith as a member
of the Board, effective as of March23, 2017.
The Board has determined that each of Mr.Ishrak and Mr.Smith
qualifies as independent in accordance with the published listing
requirements of NASDAQ. Neither Mr.Ishrak nor Mr.Smith has been
appointed to any Board committees at this time.
Mr.Ishrak, 61, is the Chairman and Chief Executive Officer of
Medtronic plc, serving in that role since 2011. Prior to joining
Medtronic, he spent 16 years in various roles with General
Electric Company, most recently as President and Chief Executive
Officer of GE Healthcare Systems, a division of GE Healthcare.
Mr.Ishrak is a member of the board of trustees of the Asia
Society and a member of the board of directors of Minnesota
Public Radio. He holds a Bachelor of Science degree and Ph.D. in
Electrical Engineering from the University of London, Kings
College.
Mr.Smith, 50, is the Chief Financial Officer, Executive Vice
President, Corporate Development and Strategy of The Boeing
Company, serving in that role since February 2015. Mr.Smith
previously served as Boeings Executive Vice President, Chief
Financial Officer since February 2012, and he held various other
leadership roles with Boeing since 2008. Prior to that, he served
for four years as Vice President of Global Investor Relations at
Raytheon Company. Mr.Smith serves on the board of trustees for
the Chicago Museum of Science and Industry, and on the board of
directors of the Economic Club of Chicago, the Chicago Botanic
Garden, and the Northwestern Medicine Community Physicians Group.
Mr.Ishrak and Mr.Smith will each receive the standard
compensation amounts payable to non-employee directors of the
Board. to these arrangements, commencing in March 2017, Mr.Ishrak
and Mr.Smith will each be paid an annual retainer of $90,000 (in
addition to any committee fees), which will be pro-rated for
their first year of service.In addition, in May 2017, Mr.Ishrak
and Mr.Smith will each be granted non-employee director
outperformance restricted stock units and restricted stock units.
Each directors awards will have a cumulative market value on the
grant date of approximately $183,340, which is pro-rated from the value of
the annual awards granted to non-employee directors, and the
awards will vest on the same schedule as the annual awards
granted to non-employee directors in
February 2017, subject to each directors respective continued
service on the Board.
Mr.Ishrak and Mr.Smith will
also each enter into Intels standard form of directors
indemnification agreement with Intel, to which Intel agrees to
indemnify its directors to the fullest extent permitted by
applicable law and subject to certain conditions to advance
expenses in connection with proceedings as described in the
indemnification agreement.
| Item7.01 | Regulation FD Disclosure. |
Intels press release
announcing the elections of Mr.Ishrak and Mr.Smith is furnished
as Exhibit 99.1 to this Current Report on Form
8-K.
| Item9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
The following exhibit is
furnished as part of this Report.
|
ExhibitNumber |
Description |
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| 99.1 | Press Release dated March23, 2017 |
About INTEL CORPORATION (NASDAQ:INTC)
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components. DCG segment includes server, network and storage platforms designed for the enterprise, cloud, communications infrastructure and technical computing segments. IOTG segment includes platforms designed for Internet of Things market segments, including retail, transportation, industrial, and buildings and home use. SSG segment includes Intel Security Group, and Software and Services group. All Other segment includes Non-Volatile Memory Solutions Group and the New Devices Group. INTEL CORPORATION (NASDAQ:INTC) Recent Trading Information
INTEL CORPORATION (NASDAQ:INTC) closed its last trading session down -0.15 at 35.22 with 19,144,498 shares trading hands.