Form 4: Intel CEO Patrick Gelsinger Reports Stock Transactions

Intel CEO Patrick Gelsinger reports the vesting and disposal of restricted stock units, along with adjustments to holdings in family trusts.

Summary

• On May 30, 2024, Intel CEO Patrick Gelsinger reported transactions involving Intel common stock.
• He exercised restricted stock units (RSUs) converting them into 48,216 shares of common stock.
• Simultaneously, he disposed of 23,906 shares to cover tax obligations at a price of $30.28 per share.
• There were also updates to the relative holdings of the reporting person's direct holdings and certain Trusts compared to prior Forms 4 as a result of a broker's record-keeping error.
• The reporting person's total beneficial ownership has not changed from his most recent Form 4, except to reflect the transactions reported in this Report.
• Following these transactions, Gelsinger directly owns 34,999 shares and indirectly owns shares through various trusts.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common among publicly traded companies like Intel.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units (RSUs) that vest over time, aligning executive interests with shareholder value.
• The sale of shares to cover tax obligations upon vesting is a standard practice among executives receiving equity compensation.
• Similar filings are regularly made by executives at comparable companies like AMD, NVIDIA, and Qualcomm.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they are part of standard executive compensation practices.
• Shareholders may view the transactions as a routine part of executive compensation.

Key Dates