Summary
Intel Corporation (INTC) announced on July 11, 2016, the election of Dr. Tsu-Jae King Liu to its Board of Directors, effective July 7, 2016. Dr. Liu, a distinguished professor at UC Berkeley with extensive experience in electrical engineering and academic leadership, has been deemed an independent director by NASDAQ standards. Her appointment is expected to bring valuable technical and academic insights to Intel's strategic direction. Dr. Liu's compensation will align with the company's standard non-employee director arrangements, including an annual retainer and equity grants in the form of restricted stock units, with a total approximate market value of $110,000 for her initial year. The company will also enter into its standard director indemnification agreement with Dr. Liu. This appointment signifies Intel's continued commitment to board diversity and the addition of expertise relevant to the semiconductor industry.
Key Highlights
- 1Intel appointed Dr. Tsu-Jae King Liu as a new independent director to its Board of Directors, effective July 7, 2016.
- 2Dr. Liu is a distinguished professor at UC Berkeley, specializing in Electrical Engineering and Computer Sciences, with significant academic leadership experience.
- 3Her appointment enhances the board's technical expertise and academic perspective, relevant to the semiconductor industry.
- 4Dr. Liu has been determined to be an independent director according to NASDAQ listing standards.
- 5She will receive standard compensation for non-employee directors, including an annual retainer of $90,000 and equity awards (RSUs) valued at approximately $110,000 for her first year.
- 6Dr. Liu's equity awards will vest according to the schedule of annual awards granted to non-employee directors in January 2016, subject to continued service.
- 7Intel will enter into its standard director indemnification agreement with Dr. Liu.