- Intel Corp (NASDAQ: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.
- Photo via Wikimedia Commons
