Business Context and Reporting Period
This Form 8-K filing by Advanced Micro Devices, Inc. (AMD) is dated June 26, 2026. The report discloses changes to the compensatory arrangements for certain executive officers, approved by the Board of Directors and the Compensation and Leadership Resources Committee.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. It focuses exclusively on executive compensation adjustments.
Executive Compensation Adjustments
| Executive | Role | Base Salary (Prior) | Base Salary (New) | LTIP Target Value |
|---|---|---|---|---|
| Lisa T. Su | Chair, President, CEO | $1,323,000 | $1,375,000 | $36,000,000 |
| Jean Hu | EVP, CFO, Treasurer | $800,000 | $850,000 | $9,000,000 |
| Mark Papermaster | EVP, CTO | $870,000 | $900,000 | $10,000,000 |
| Darren Grasby | EVP, CSO, President EMEA | $810,902 | $843,866 | $7,500,000 |
| Forrest Norrod | EVP, GM Data Center | $780,000 | $800,000 | $8,000,000 |
Material Changes
- Base Salary Increases: Effective July 1, 2026, annual base salaries for the five named executives increased. For example, CEO Lisa Su's salary increased by $52,000.
- Long-Term Incentive Awards: New equity awards under the 2023 Equity Incentive Plan are scheduled for a grant date of August 15, 2026.
- Award Structure:
- CEO Lisa Su: 75% Performance-Based RSUs (PRSUs) and 25% Time-Based RSUs.
- Other Executives: 60% PRSUs and 40% Time-Based RSUs.
Guidance, Outlook, and Risks
The filing does not contain financial guidance or general business outlook. However, it outlines specific performance metrics tied to executive compensation:
- Performance Period: August 15, 2026, to August 15, 2029.
- TSR Metric: PRSUs are earned based on AMD's Total Shareholder Return relative to S&P 500 peer companies. Earnings range from 0% to 200% of target, capped at 100% if TSR is negative.
- EPS Metric: Additional PRSUs (0%, 25%, or 50% of the TSR-earned amount) depend on fiscal 2028 non-GAAP EPS compared to fiscal 2026 non-GAAP EPS targets.
- Vesting: RSUs vest quarterly starting August 15, 2027, through August 15, 2030. PRSUs vest upon performance certification, generally by August 22, 2029.
Investor Verification Checklist
- Verify the actual grant date of August 15, 2026, and the resulting share counts based on the 30-day average stock price.
- Monitor the definition of "Peer Companies" within the S&P 500 Index used for TSR calculations.
- Confirm the specific non-GAAP EPS targets for fiscal 2026 and 2028 when disclosed in future earnings reports.
- Review the 2023 Equity Incentive Plan for details on change-of-control provisions and acceleration clauses.