Summary
This 8-K filing from Advanced Micro Devices (AMD) on February 17, 2020, details the approval and award of fiscal year 2019 annual cash performance bonuses to its Named Executive Officers. The Compensation Committee and the Board of Directors approved these bonuses based on the company's performance against pre-established financial metrics including revenue, adjusted non-GAAP net income, and adjusted free cash flow for the 2019 fiscal year. The bonuses represent 74.6% of each executive's target bonus opportunity. For investors, this report indicates that the company's leadership team is being compensated based on achieving specific financial goals. The CEO, Lisa T. Su, received the largest bonus at $1,228,476, while other key executives like the CFO, CTO, and SVPs received bonuses ranging from $395,380 to $466,250. These payments are scheduled for March 2020, and more detailed information is expected in the company's upcoming proxy statement.
Key Highlights
- 1AMD's Compensation Committee and Board of Directors approved fiscal year 2019 annual cash performance bonuses for Named Executive Officers.
- 2Bonuses were based on company performance against pre-established financial measures: revenue, adjusted non-GAAP net income, and adjusted free cash flow for FY 2019.
- 3Each executive received 74.6% of their respective 2019 target cash bonus opportunity.
- 4CEO Lisa T. Su received a bonus of $1,228,476.
- 5Other Named Executive Officers received bonuses ranging from $395,380 (Harry Wolin) to $466,250 (Mark D. Papermaster).
- 6These bonuses are expected to be paid out in March 2020.
- 7Further details on the 2019 bonuses will be provided in the company's 2020 Proxy Statement, expected in March 2020.