INTC executive discloses stock, PSU and RSU positions in Form 3
Rhea-AI Filing Summary
Intel Corporation (INTC) executive files insider ownership report. The company's EVP, CT & Ops Officer and GM Foundry reports owning 150,029 shares of Intel common stock directly. In addition, the executive holds derivative equity awards, including 179,652 performance stock units (PSUs) and several grants of restricted stock units (RSUs) tied to Intel common stock.
The PSUs can vest into up to 200% of one share of Intel common stock per unit, based on performance metrics set by the Talent and Compensation Committee over a three-year performance period, with scheduled conversion on January 31, 2028, subject to forfeiture conditions. The RSU awards generally vest over multi-year schedules, including annual vesting in three equal installments, eight substantially equal quarterly tranches beginning on January 30, 2025, and a staggered schedule of approximately 30% on the first and second anniversaries and approximately 40% on the third anniversary of the grant date.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Performance Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Unless earlier forfeited under the terms of the PSU, each PSU vests and converts into no more than 200% of one share of Intel common stock on January 31, 2028, unless that date falls on a non-business date, in which case the next business date shall apply. Each performance stock unit (PSU) represents the right to receive, following vesting, up to 200% of one share of Intel common stock. The number of shares of Intel common stock acquired upon vesting of the PSUs is contingent upon the achievement of pre-established performance metrics, as approved by the Company's Talent and Compensation Committee, over a three-year performance period beginning with the first day of the fiscal year of the grant date and ending on the last day of the fiscal year of the second anniversary of the grant date. Unless earlier forfeited under the terms of the RSU, 33.33% of the awards vest and convert into common stock on each anniversary of the grant date, unless that date falls on a non-business date, in which case the next business date shall apply. Each restricted stock unit (RSU) represents the right to receive, following vesting, one share of Intel common stock. Unless earlier forfeited under the terms of the RSUs, the RSUs will vest in three equal annual installments of Intel common stock beginning on the first anniversary of the grant date, unless that date falls on a non-business date, in which case the next business date shall apply. Unless earlier forfeited under the terms of the RSU, 1/8th of the award vests and converts into common stock in eight substantially equal quarterly tranches, beginning on January 30, 2025. If the quarterly vesting date falls on a non-business date, the next business date shall apply. Unless earlier forfeited under the terms of the RSU, ~30% of the awards vest and convert into common stock on the anniversary of the grant date, ~30% of the awards vest and convert into common stock on the 2nd anniversary of the grant date, ~40% of the awards vest and convert into common stock on the 3rd anniversary of the grant date, unless any vesting date falls on a non-business date, in which case the next business date shall apply.
FAQ
What does the Intel (INTC) insider report disclose about common stock ownership?
The report discloses that the Intel executive, serving as EVP, CT & Ops Officer and GM Foundry, directly owns 150,029 shares of Intel common stock.
What performance stock units (PSUs) does the Intel (INTC) executive hold?
The executive holds 179,652 performance stock units, each representing the right to receive, following vesting, up to 200% of one share of Intel common stock, contingent on achieving pre-established performance metrics over a three-year performance period, with conversion scheduled on January 31, 2028 unless forfeited earlier.
How do the restricted stock units (RSUs) for the Intel (INTC) executive vest?
The RSUs vest under multiple schedules, including 33.33% on each anniversary of the grant date for certain awards, three equal annual installments for others, eight substantially equal quarterly tranches beginning on January 30, 2025, and a staggered schedule of about 30% on the first and second anniversaries and about 40% on the third anniversary of the grant date, all subject to forfeiture provisions.
Are the Intel (INTC) PSUs based on performance conditions?
Yes. Each PSU represents the right to receive up to 200% of one share of Intel common stock, with the number of shares earned contingent on pre-established performance metrics approved by the Talent and Compensation Committee over a defined three-year performance period.
Is this Intel (INTC) insider filing for one reporting person or a group?
The form is indicated as filed by one reporting person, not by a joint or group filing.
What is the role of the reporting person in Intel (INTC)?
The reporting person is identified as an officer of Intel with the title EVP, CT & Ops Off, GM Foundry, and is not listed as a director or 10% owner.