March 28, 2025 – Former Intel CEO Pat Gelsinger is set to receive a substantial severance package of up to $7.85 million following his departure from the company in December 2024, according to filings submitted to the U.S. Securities and Exchange Commission (SEC).
The compensation package includes 7millionpayableover18months,encompassinghisannualsalaryandtargetcashbonus.Aspertheagreement,Gelsingerwillreceive18months′worthofhis1.25 million annual salary, totaling 1.875million,alongwith1.5timeshistargetcashbonusof3.44 million, amounting to $5.16 million.
Additionally, he will be entitled to his 2024 annual cash bonus of $822,200. As part of the severance deal, Gelsinger has forfeited any unvested equity awards.
Intel has stated that Gelsinger’s severance package is contingent upon his agreement to (i) release any claims against the company, (ii) affirm his obligations related to confidentiality and intellectual property, and (iii) cooperate in legal proceedings.
Furthermore, Intel has disclosed that interim co-CEOs, Chief Financial Officer David Zinsner and Product CEO Michelle Johnston Holthaus, will each receive 1.5millionincompensationattheendofthecurrentquarter,totaling3 million for both.
