Shareholders Rejected Intel's Top Executive Compensation Just A Month After It Painted Dismal Q2 Outlook

May 17, 2022 7:42 AM | 1 min read | Make a Comment

Intel Corp INTC shareholders rejected compensation packages for top executives, including a payout of as much as $178.6 million to CEO Pat Gelsinger.
Shareholders cast 1.78 billion votes against executive compensation at the annual meeting.
Shareholders cast 921.2 million votes in favor of the compensation. The vote is non-binding.
Gelsinger has earned 1,711 times as much as the average worker at Intel since he joined in February 2021.
Intel saw its second-quarter revenue and profit below Street expectations in April, citing weak demand in its largest market, PCs, and increased supply-chain uncertainty due to fresh COVID-19 lockdowns in China.
Price Action: INTC shares traded higher by 1.67% at $43.80 in the premarket on the last check Tuesday.
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