4 ms·
In 2021 Pat Gelsinger made $179 million dollars[1]. But his salary was $1.1 million. So him taking a 25% cut in his salary is pretty much nothing. [1] https://
by graton 4y ago
In 2021 Pat Gelsinger made $179 million dollars[1]. But his salary was $1.1 million. So him taking a 25% cut in his salary is pretty much nothing.
[1] https://www.crn.com/news/components-peripherals/intel-ceo-pat-gelsinger-earned-179m-in-2021 https://www.crn.com/news/components-peripherals/intel-ceo-pa...
- BeetleB 4y agoThis common assertion is false. See my earlier comment here: https://news.ycombinator.com/item?id=34584450 https://news.ycombinator.com/item?id=34584450
- doetoe 4y agoYour comment only says that it was mostly in RSU, and since the stock had been going down it will likely be worth 1/3 by the time it vests. Even so, 25% of 1.1m is pretty much negligible, certainly compared with the 5% normal employees get cut
- BeetleB 4y agoI agree a 25% cut for him is nothing. I was pointing out the falsehood of him making $179M. He made about $10M in 2021 and will likely not see most of the remaining amount as he will not hit the share price in time.
- doetoe 4y agoI misunderstood the part of the RSU's: I thought you meant that by the time they vest they will be worth considerably less than $179M, because the stock price has gone down. However if I understood you correctly now, these will be worth 0 if the stock price doesn't hit a certain value in time
- BeetleB 4y agoYes - he simply won't get those stocks. Read the 2022 Proxy statement starting from around P 66 for all the gory details. I think my estimate of $10M was probably high.