8-KLeadership Changes

ADVANCED MICRO DEVICES INC 8-K Report, Executive Changes (Jul 1, 2026)

Filed July 1, 2026For Securities:AMD

Summary

Advanced Micro Devices, Inc. (AMD) has filed an 8-K report detailing significant changes to the compensation of its key executive officers, effective July 1, 2026. This filing announces base salary increases for several top executives, including CEO Lisa Su, CFO Jean Hu, and CTO Mark Papermaster, reflecting their continued leadership roles and contributions to the company. These adjustments are standard practice to retain top talent and align compensation with market rates for senior leadership positions. More notably, the report outlines substantial long-term incentive awards to be granted on August 15, 2026. These awards will be primarily in the form of Performance-Based Restricted Stock Units (PRSUs) and Time-Based Restricted Stock Units (RSUs) under the Company's 2023 Equity Incentive Plan. The PRSUs have a complex performance structure tied to AMD's Total Shareholder Return (TSR) relative to the S&P 500 and the company's non-GAAP Earnings Per Share (EPS) for fiscal year 2028. This structure aims to strongly incentivize executives to drive significant long-term value and stock price appreciation for shareholders.

Key Highlights

  • 1Effective July 1, 2026, key executive base salaries have been increased, including a raise for CEO Lisa Su from $1,323,000 to $1,375,000.
  • 2Long-term incentive equity awards, totaling significant target values, will be granted on August 15, 2026, under the 2023 Equity Incentive Plan.
  • 3CEO Lisa Su is slated to receive a target award value of $36,000,000.
  • 4Awards will consist of Performance-Based Restricted Stock Units (PRSUs) and Time-Based Restricted Stock Units (RSUs), with a higher proportion of PRSUs for the CEO (75%) compared to other listed executives (60%).
  • 5PRSUs are contingent on AMD's Total Shareholder Return (TSR) relative to the S&P 500 over a three-year performance period (August 2026 - August 2029).
  • 6An additional component of PRSU earnings is tied to AMD's non-GAAP Earnings Per Share (EPS) performance in fiscal year 2028.
  • 7RSUs will vest over a period of approximately three years, starting August 15, 2027.

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