That's 1700 times of Intel median pay BTW. His base pay was $1.1 million, less than 1% of the TComp. 25% of that is 0.25% of TComp. If someone at Intel median pay got 0.25% pay cut, it'll be like $50 a week. Don't worry about your dear leader. He's doing just fine.
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ONE example why stock dividend is so important to ELT. Info available by a simple search-
“Gelsinger now owns 96,049 Intel shares directly, and another 266,530 shares through trusts. Nov 11, 2022”
He’s still getting paid, even as the stock price drops. This has nothing to do with the generic investors.
It’s crazy how much this guy manipulates the employees. They are still going to pray to him like he is God and believe he will save them one day. Wake up for Christ’s sake..
I am doing OK
- PG
This is really old news. What did he earn in 2022?
Most of the 2021 compensation from Intel was probably paying him for the unvested compensation he walked away from at VMware. VMware stock price was around $135 a share when he left.
PG and every tech CEO are way over compensated. Since Intel stock is down around 60% from the peak in April 2021 I bet his compensation has taken a huge hit too.
The $178M bought us this quotable:
"Alder Lake. All of a sudden...Bo-m! We are back in the game. AMD in the rearview mirror in clients and never again will they be in the windshield; we are just leading the market."
Yup. ELT gets most of their TC in stock. Whereas the peons get it in base pay, which is already cr---y for big tech. Working at In-N-Out would be more fulfilling than this sh*thole. And you get good free burgers too, unlike the the overpriced food at the Intel Cafes.
This is exactly why I am not happy about the distribution of these pay cuts.
On the flip side, I am thinking that he is keeping his 75% pay cut level for next iteration. (Just in case this round is not enough)