According to a regulatory filing on Friday, Tan’s package includes a $1 million base salary, a 200% performance-based bonus, and $66 million in long-term equity awards, stock options, and new-hire incentives.
Additionally, Tan has committed to purchasing $25 million worth of Intel shares within his first 30 days in office. “Lip-Bu’s purchase reflects his belief in Intel and commitment to creating shareholder value,” Intel said.
Tan, 65, was named as Intel’s new CEO earlier this week, succeeding Pat Gelsinger, who was ousted by the board. A veteran in the semiconductor industry and a former Intel board member, he is expected to lead efforts to restore Intel’s dominance in the sector.
Intel confirmed that Tan will officially assume the role on March 18 and will also rejoin the board, having stepped down in August 2024.
Following the announcement of his appointment, Intel’s stock surged 15% on Thursday, contributing to an overall 20% gain this year.
