Advanced Micro Devices Inc 8-K, filed Feb 21, 2023
Advanced Micro Devices Inc (AMD)
8-K
2023-02-21
For: 2023-02-14
View Original
Added on
April 02, 2026
About this 8-K
Advanced Micro Devices Inc filed this 8-K on February 21, 2023, reporting on events of February 14, 2023.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Executive Incentive Plan Bonuses for Fiscal 2022
On February 14, 2023, the Compensation and Leadership Resources Committee (the “CLRC”) of the Board of Directors of Advanced Micro Devices, Inc. (the “Company”) approved the following annual cash performance bonuses under the Company’s Executive Incentive Plan to the named executive officers (as set forth in the Company’s most recent definitive proxy statement filed with the Securities and Exchange Commission on March 31, 2022):
| Named Executive Officer | Fiscal 2022 Annual Cash Performance Bonuses | |||||||
Devinder Kumar, Executive Vice President(1) | $ 346,250 | |||||||
| Rick Bergman, Executive Vice President, Computing and Graphics Business Group | $ 318,750 | |||||||
Darren Grasby, Executive Vice President and Chief Sales Officer(2) | $ 301,650 | |||||||
| Mark D. Papermaster, Chief Technology Officer and Executive Vice President, Technology and Engineering | $ 375,000 | |||||||
________________
(1) Mr. Kumar retired as Chief Financial Officer and Treasurer on January 23, 2023.
(2) Mr. Grasby’s Fiscal 2022 Annual Cash Performance Bonus of £250,000 was converted from British pounds to U.S. dollars using an exchange rate of 1.2066 U.S. dollars per 1.00 British pound, which was the exchange rate reported by Bloomberg Financial as of 12/31/22.
On February 15, 2023, the Board of Directors of the Company approved the following annual cash performance bonus under the EIP for the Company’s Chair, President and Chief Executive Officer:
Lisa T. Su, Chair, President and Chief Executive Officer | $ 918,800 | |||||||
These bonus awards are expected to be paid in March 2023.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: February 21, 2023 | ADVANCED MICRO DEVICES, INC. | ||||||||||||||||
By: | /s/ Harry Wolin | ||||||||||||||||
Name: | Harry A. Wolin | ||||||||||||||||
Title: | Senior Vice President, General Counsel and Corporate Secretary | ||||||||||||||||