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