Business Context and Reporting Period
This Form 8-K was filed by Advanced Micro Devices, Inc. on November 6, 2008. The report addresses Item 5.02 regarding changes to the compensatory arrangements of certain officers.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation adjustments.
Material Changes
On November 6, 2008, the Compensation Committee approved changes to the compensation of Robert J. Rivet, Chief Financial Officer and Chief Operations and Administrative Officer, effective immediately. These changes were made following his appointment as Chief Operations and Administrative Officer on October 23, 2008.
- Base Salary: Increased from $599,000 to $650,000 annually.
- Target Award: Increased from 150% to 175% of annual base salary under the 2005 Annual Incentive Plan.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on market conditions, risks, contingencies, or unusual items. The report is limited to the disclosure of the executive compensation adjustment.
Key Facts for Investor Verification
- Robert J. Rivet received a salary increase of $51,000 effective November 6, 2008.
- Rivet's target incentive award percentage was raised by 25 percentage points.
- The compensation changes were approved by the Compensation Committee of the Board of Directors.
- The filing does not disclose any financial results or operational metrics for the period.