Intel's new CEO lands $66M pay deal, with stock performance conditions

In a nutshell: As Intel prepares for the arrival of its new CEO, Lip-Bu Tan, a recent regulatory filing has revealed details of his comprehensive compensation package. Tan will receive a base salary of $1 million, with the potential to earn an annual bonus of up to $2 million. However, the bulk of his compensation comes from long-term equity awards and stock options, totaling approximately $66 million. The package includes a long-term equity grant valued at $14.4 million and a performance grant of $17 million in Intel shares, set to vest over five years. Notably, Tan will only receive these shares if Intel's stock price does not decline over the next three years, with the potential to earn additional shares if the company outperforms the market. In addition, Tan will receive stock options worth $9.6 million and a new-hire option grant valued at $25 million. This comprehensive package is designed to align his incentives with long-term shareholder value creation. Intel emphasized that ... Read full article.