Form 4: Intel Director Acquires Phantom Stock Units

Director Frank D. Yeary acquired phantom stock units convertible to cash based on Intel common stock value, according to a recent SEC filing.

Summary

• Frank D. Yeary, a director at Intel Corp, reported a transaction involving phantom stock units.
• On June 28, 2024, Yeary acquired 2,421.699 phantom stock units, each representing the right to receive the cash value of one share of Intel common stock.
• The price per unit was $30.97.
• Following the transaction, Yeary directly owns 29,752.574 phantom stock units.
• These units are payable in cash upon termination of Yeary's service on the board of directors.
• The reported holdings include 112.324 units acquired via dividend reinvestment in June 2024.

Sentiment

Score: 7

Explanation: The document is a routine SEC filing detailing a director's acquisition of phantom stock units, which is a neutral event. The sentiment is slightly positive as it reflects ongoing director compensation and alignment with shareholder interests.

Future Outlook

The phantom stock units are payable in cash following termination of the reporting person's service on the board of directors.

Industry Context

This filing reflects standard executive compensation practices, where phantom stock units are used to align director interests with shareholder value and provide deferred compensation.

Comparison to Industry Standards

• Granting phantom stock units to board members is a common practice among large publicly traded companies like Intel.
• Companies such as Apple, Microsoft, and Google also utilize similar equity-based compensation methods to incentivize and retain their directors.
• The specific number of units and vesting schedules vary based on company size, performance, and individual director agreements.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of shareholders, as the value is tied to the performance of Intel's common stock.
• This type of compensation can incentivize directors to make decisions that increase shareholder value.

Key Dates