Business Context and Reporting Period
This Form 8-K Current Report was filed by Advanced Micro Devices, Inc. on June 26, 2018. The filing addresses Item 5.02 regarding the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on executive compensation adjustments.
Material Changes Versus Prior Period
The Board of Directors approved base salary increases for the Chief Executive Officer and four Named Executive Officers, effective July 1, 2018. The specific changes are as follows:
- Dr. Lisa T. Su (CEO): Annual salary increased by $75,000 from $925,000 to $1,000,000.
- Devinder Kumar (CFO): Annual salary increased from $550,000 to $565,000.
- James R. Anderson (SVP, Computing and Graphics): Annual salary increased from $530,000 to $550,000.
- Forrest E. Norrod (SVP, Datacenter and Embedded): Annual salary increased from $530,000 to $550,000.
- Mark D. Papermaster (CTO): Annual salary increased from $575,000 to $600,000.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary on operations, risks, contingencies, or unusual items. The document is limited to the disclosure of the approved salary adjustments.
Important Facts for Investors to Verify
- Confirmation that the salary increases are effective as of July 1, 2018.
- Review of the Company's most recent definitive proxy statement (filed March 19, 2018) for the full context of executive compensation packages.
- Assessment of the impact of these increases on total executive compensation relative to company performance.