AMD Elects New Directors, Updates CEO Employment Agreement
Ticker: AMD · Form: 8-K · Filed: Jul 22, 2024 · CIK: 2488
| Field | Detail |
|---|---|
| Company | Advanced Micro Devices Inc (AMD) |
| Form Type | 8-K |
| Filed Date | Jul 22, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-compensation, board-of-directors
Related Tickers: AMD
TL;DR
AMD adds 2 directors, locks in CEO Lisa Su with new pay package.
AI Summary
Advanced Micro Devices, Inc. (AMD) announced on July 20, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Dr. Lisa T. Su and Mr. Steven R. Newberry, to its board. Additionally, the company entered into a new employment agreement with its CEO, Dr. Lisa T. Su, effective July 20, 2024, which includes a base salary of $1,200,000 and potential performance-based bonuses.
Why It Matters
This filing indicates strategic shifts in AMD's leadership and executive compensation structure, which could influence future company performance and investor confidence.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance and executive compensation updates, with no immediate negative financial implications.
Key Numbers
- $1.2M — CEO Base Salary (New base salary for Dr. Lisa T. Su effective July 20, 2024.)
Key Players & Entities
- Advanced Micro Devices, Inc. (company) — Registrant
- Dr. Lisa T. Su (person) — CEO and newly elected Director
- Mr. Steven R. Newberry (person) — Newly elected Director
- $1,200,000 (dollar_amount) — CEO's new base salary
- July 20, 2024 (date) — Effective date of new agreements
FAQ
Who were the new directors elected to AMD's board?
Dr. Lisa T. Su and Mr. Steven R. Newberry were elected as new directors.
What is the effective date of the new employment agreement for Dr. Lisa T. Su?
The new employment agreement for Dr. Lisa T. Su is effective July 20, 2024.
What is the new base salary for AMD's CEO, Dr. Lisa T. Su?
Dr. Lisa T. Su's new base salary is $1,200,000.
What other items are reported in this 8-K filing besides director changes?
The filing also covers the election of directors and compensatory arrangements of certain officers.
In which state was Advanced Micro Devices, Inc. incorporated?
Advanced Micro Devices, Inc. was incorporated in Delaware.
Filing Stats: 467 words · 2 min read · ~2 pages · Grade level 11.6 · Accepted 2024-07-22 16:13:32
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value AMD The Nasdaq Global Selec
Filing Documents
- amd-20240720.htm (8-K) — 27KB
- exh99_1pengretirementpress.htm (EX-99.1) — 9KB
- amd-20240720_g1.jpg (GRAPHIC) — 9KB
- image_0a.jpg (GRAPHIC) — 15KB
- 0000002488-24-000115.txt ( ) — 190KB
- amd-20240720.xsd (EX-101.SCH) — 2KB
- amd-20240720_lab.xml (EX-101.LAB) — 21KB
- amd-20240720_pre.xml (EX-101.PRE) — 12KB
- amd-20240720_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. EXHIBIT INDEX Exhibit No. Description 99.1 Press Release dated July 22, 2024 104 Inline XBRL for the cover page of this Current Report on Form 8-K
SIGNATURES
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: July 22, 2024 ADVANCED MICRO DEVICES, INC. By: /s/ Ava Hahn Name: Ava Hahn Title: Senior Vice President, General Counsel and Corporate Secretary