[Form 3] INTEL CORP Initial Statement of Beneficial Ownership
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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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.