Skip to content
AnalystLens

ADVANCED MICRO DEVICES INC 8-K Report, Executive Changes (Feb 21, 2023)

Reports
Leadership Changes
Filing Date
Filed February 21, 2023
Period End
February 14, 2023
Security
AMD
In the record · 2016–202610-K1210-Q328-K136

AMD filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 136 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’17Mar ’17
  2. Leadership change8-K · Feb ’20Feb ’20
  3. Material agreement8-K · May ’22May ’22
  4. Leadership change8-K · Aug ’26Aug ’26

01—Abstract

Summary

Summary of the 8-K filed February 21, 2023. Cited figures are marked; the original filing is the authoritative source.

This 8-K filing from Advanced Micro Devices (AMD) on February 21, 2023, primarily discloses the approval and amounts of fiscal year 2022 annual cash performance bonuses for the company's named executive officers, including CEO Lisa Su.

These bonuses, determined by the Compensation and Leadership Resources Committee, reflect the company's performance for the past fiscal year and are set to be paid out in March 2023. Notably, the filing confirms a bonus of $918,800a for CEO Lisa Su, and other executive bonuses ranging from approximately $300,000 to $375,000.

It also clarifies the departure of Devinder Kumar as CFO on January 23, 2023, with his bonus reflecting his tenure and responsibilities. The bonus for Darren Grasby was converted from GBP to USD based on a specific exchange rate as of year-end 2022.

02—Key points

Key Highlights

  1. Fiscal Year 2022 annual cash performance bonuses approved for named executive officers.
  2. CEO Lisa Su to receive a bonus of $918,800.
  3. Other executive bonuses approved range from $301,650 to $375,000.
  4. Bonuses are performance-based and awarded under the Executive Incentive Plan.
  5. Payments for these bonuses are expected in March 2023.
  6. Devinder Kumar, former CFO, received a bonus of $346,250; he retired on January 23, 2023.
  7. Darren Grasby's bonus was converted from GBP to USD using a specific exchange rate.

03—Questions

Frequently Asked Questions

  1. What is the main purpose of this 8-K filing?

    The main purpose of this 8-K filing is to disclose the approved fiscal year 2022 annual cash performance bonuses for AMD's named executive officers, as determined by the Compensation and Leadership Resources Committee.

  2. How much will CEO Lisa Su receive as a bonus?

    CEO Lisa Su is set to receive an annual cash performance bonus of $918,800 for fiscal year 2022.

  3. When will these executive bonuses be paid out?

    The bonus awards are expected to be paid out to the executive officers in March 2023.

  4. Does Devinder Kumar's bonus reflect his role as CFO for the entire year?

    Devinder Kumar received a bonus of $346,250. While he retired as CFO on January 23, 2023, the bonus amount likely reflects his performance and responsibilities during his tenure in fiscal year 2022.

04—Continue

← View all 8-K filings