Form 4: Intel Executive Scott Gawel Reports Stock Transactions

Scott Gawel, CVP and Chief Accounting Officer at Intel, reported the vesting and conversion of restricted stock units into common stock, along with associated tax withholding.

Summary

• Scott Gawel, Intel's CVP and Chief Accounting Officer, filed a Form 4 detailing changes in beneficial ownership of Intel stock.
• On April 30, 2024, Gawel vested and converted 4,357 restricted stock units (RSUs) into common stock.
• An additional 3,267 RSUs were also vested and converted on the same date.
• A portion of the shares were withheld to cover tax obligations, resulting in a disposal of 2,161 and 1,620 shares respectively at a price of $30.8.
• Following these transactions, Gawel directly owns 5,200.301 shares of common stock and indirectly owns 28,243.2803 shares through a family trust.
• The family trust holdings include 65.6228 shares acquired via dividend reinvestment from March 2024.
• The direct holdings include 14.705 shares acquired via dividend reinvestment from March 2024.
• Gawel also directly owns 16,338 and 21,784 restricted stock units.

Sentiment

Score: 5

Explanation: This is a neutral report of stock transactions, with no inherent positive or negative implications for the company's performance.

Industry Context

Form 4 filings are standard practice for corporate insiders to report transactions in their company's stock, providing transparency to investors.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units (RSUs) that vest over time, aligning executive interests with long-term shareholder value, similar to practices at companies like Apple, Microsoft, and Google.
• The vesting schedule of 1/12th quarterly is a common vesting schedule.
• Tax withholding through stock disposal is a standard procedure.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they primarily reflect internal compensation and tax obligations.
• The filing provides transparency to shareholders regarding executive stock ownership.

Key Dates