01—Abstract
Summary
Summary of the 8-K/A filed March 14, 2025. Cited figures are marked; the original filing is the authoritative source.
This 8-K/A filing from Intel Corp (INTC) provides an update regarding the compensation for its Interim Co-Chief Executive Officers, Michelle Johnston Holthaus and David Zinsner.
Effective March 18, 2025, following the appointment of Lip-Bu Tan as the new CEO, both Ms. Johnston Holthaus and Mr. Zinsner will step down from their interim co-CEO roles. Investors should note that each interim co-CEO will receive a special cash payment of $1,500,000,a payable at the end of Q1 2025, as compensation for their service in this capacity.
Following this transition, Ms. Johnston Holthaus will resume her role as Chief Executive Officer of Intel Products, and Mr. Zinsner will continue as Executive Vice President and Chief Financial Officer. This amendment clarifies the financial arrangements related to the recent leadership changes.
02—Key points
Key Highlights
- Michelle Johnston Holthaus and David Zinsner to receive $1,500,000 each in cash compensation for their service as Interim Co-CEOs.
- Compensation payment is scheduled to be made at the end of the first quarter of 2025.
- Interim Co-CEO roles will conclude on March 18, 2025, coinciding with Lip-Bu Tan's appointment as CEO.
- Michelle Johnston Holthaus will return to her position as Chief Executive Officer of Intel Products.
- David Zinsner will continue in his role as Executive Vice President and Chief Financial Officer.
- This filing is an amendment (8-K/A) to a prior report concerning their appointment as Interim Co-CEOs.
03—Questions
Frequently Asked Questions
What is the total compensation for the Interim Co-CEOs?
Michelle Johnston Holthaus and David Zinsner will each receive a cash payment of $1,500,000, totaling $3,000,000 between them for their service as Interim Co-CEOs.
When will the Interim Co-CEOs receive their payments?
The cash payments of $1,500,000 to each Interim Co-CEO are scheduled to be paid at the end of the first quarter of 2025.
What happens to Michelle Johnston Holthaus and David Zinsner after the new CEO takes over?
Upon Lip-Bu Tan's appointment as CEO on March 18, 2025, Ms. Johnston Holthaus will resume her role as Chief Executive Officer of Intel Products, and Mr. Zinsner will continue as Executive Vice President and Chief Financial Officer.
Why is Intel filing an 8-K/A amendment?
Intel is filing an 8-K/A amendment to provide additional information regarding the specific cash compensation that Michelle Johnston Holthaus and David Zinsner will receive for their service as Interim Co-Chief Executive Officers.
04—Continue