Summary
This 8-K filing from Advanced Micro Devices (AMD) reports on the approval of annual cash performance bonuses for its Named Executive Officers for Fiscal Year 2020. The bonuses were determined based on a combination of corporate financial performance (80% weighting) and strategic milestones (20% weighting). Key financial metrics evaluated included revenue, adjusted non-GAAP net income, and adjusted free cash flow, alongside product tape outs, launches, and commercial/operational metrics for strategic goals. The bonuses are a reflection of the company's performance in Fiscal Year 2020 and are expected to be paid out in March 2021. Investors can view these awards as a direct incentive tied to the company's financial and strategic achievements during the past fiscal year.
Key Highlights
- 1AMD's Compensation Committee approved Fiscal Year 2020 annual cash performance bonuses for Named Executive Officers.
- 2Bonus determination was based 80% on corporate financial performance (revenue, adjusted non-GAAP net income, adjusted free cash flow) and 20% on strategic milestones (product tape outs, launches, commercial/operational metrics).
- 3CEO Lisa T. Su received a bonus of $2,546,770.
- 4Other Named Executive Officers, including the CFO Devinder Kumar and EVPs for Computing/Graphics and Sales, received bonuses ranging from approximately $789,000 to $887,000.
- 5Mr. Grasby's bonus was denominated in British Pounds and converted to USD.
- 6The approved bonuses are expected to be paid out in March 2021.