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 OfficersItem 5.02
| (d) | Election of New Director |
On September13, 2017, the Board of Directors (the “Board”) of Intel Corporation (“Intel”) elected Andrew Wilson as a member of the Board, effective immediately.
The Board has determined that Mr.Wilson qualifies as “independent” in accordance with the published listing requirements of NASDAQ. Mr.Wilson has not been appointed to any Board committees at this time.
Mr.Wilson, 43, joined Electronic Arts Inc. (“EA”) in May 2000 and has served as EA’s Chief Executive Officer and director of EA since September 2013. Previously, Mr.Wilson held several leadership positions at EA, including serving as Executive Vice President, EA SPORTS from August 2011 to September 2013. Mr.Wilson also serves as Chairman of the Board of Directors of the World Surf League.
Mr.Wilson will receive the standard compensation amounts payable to non-employee directors of the Board. to these arrangements, commencing in September 2017, Mr.Wilson will be paid an annual retainer of $90,000 (in addition to any committee fees), which will be pro-rated for his first year of service. In addition, in the fourth quarter of 2017, Mr.Wilson will be granted non-employee director outperformance restricted stock units and restricted stock units. Mr.Wilson’s awards will have a cumulative value on the grant date of approximately $146,666, 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 his continued service on the Board.
Mr.Wilson will also enter into Intel’s 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.
| Item 5.02 | Regulation FD Disclosure. |
Intel’s press release announcingthe election of Mr.Wilson is furnished as Exhibit 99.1 to this Current Report on Form8-K.
| Item 5.02 | Financial Statements and Exhibits. |
The following exhibit is furnished as part of this Report:
INTEL CORP ExhibitEX-99.1 2 d445731dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Andrew Wilson Elected to Intel Board of Directors SANTA CLARA,…To view the full exhibit click here
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.
