Miller Boise April 4
4 · INTEL CORP · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
Intel EVP/CLO April Miller Boise Sells 20,000 Shares
What Happened
- April Miller Boise, Intel EVP and Chief Legal Officer, had performance-based stock units (PSUs) vest on Jan 31, 2026 that converted into 76,705 shares of Intel common stock. To satisfy tax withholding, 29,855 shares were surrendered at $47.67 per share (proceeds/withholding value $1,423,188). Separately, 20,000 shares were sold in the open market at a weighted average price of $49.05 for proceeds of $981,000.
- The underlying event is the vesting/conversion of PSUs (a derivative award) rather than a market purchase; the filing shows both the conversion/exercise of the derivative and the subsequent dispositions to cover taxes and for sale.
Key Details
- Vesting/conversion date: January 31, 2026 (PSUs converted into 76,705 shares).
- Tax withholding: 29,855 shares withheld at $47.67 each, totaling $1,423,188.
- Open-market sale: 20,000 shares sold on February 2, 2026 at a weighted average $49.05 (trades ranged $49.04–$49.055).
- Footnotes: F1–F4 indicate (1) the PSUs were earned based on three‑year performance through fiscal 2025, (2) sale prices reflect a weighted average across multiple trades, (3) each PSU can convert to up to 200% of one share depending on performance, and (4) vesting occurred on Jan 31, 2026 (or next business day if that date fell on a non-business day).
- Shares owned after the transactions: not specified in the provided filing excerpt.
- Filing date: Form 4 filed Feb 3, 2026 reporting the Jan 31, 2026 vesting and Feb 2, 2026 dispositions.
Context
- This was the settlement of performance awards (PSUs) that vested, followed by routine withholding to pay taxes and a partial open‑market sale to monetize shares. Such tax‑withholding and partial sales after PSU vesting are common and do not necessarily signal management sentiment about the stock.
Insider Transaction Report
Form 4
INTEL CORPINTC
Miller Boise April
EVP and Chief Legal Officer
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-01-31+76,705→ 162,915 total - Tax Payment
Common Stock
2026-02-02$47.67/sh−29,855$1,423,188→ 133,060 total - Sale
Common Stock
[F2]2026-02-02$49.05/sh−20,000$981,000→ 113,060 total - Exercise/Conversion
Performance Stock Units
[F3][F1][F4]2026-01-31−76,705→ 0 total→ Common Stock (76,705 underlying)
Footnotes (4)
- [F1]Performance-based stock units ("PSUs") for 76,705 shares of Intel common stock were earned on January 31, 2026, based on the achievement of pre-established performance metrics, as approved by the Company's Compensation Committee, for the three-year performance period beginning fiscal year 2023 and ending on the last day of fiscal year 2025.
- [F2]This transaction was executed in multiple trades at prices ranging from $49.04 to $49.055. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- [F3]Each performance-based stock unit (PSU) represents the right to receive, following vesting, up to 200% of one share of Intel common stock. The number of shares of Intel common stock acquired upon vesting of the PSUs is contingent upon the achievement of pre-established performance metrics, as approved by the Company's Compensation Committee, over a three-year performance period beginning with the first day of the fiscal year of the grant date and ending on the last day of the fiscal year of the second anniversary of the grant date.
- [F4]Unless earlier forfeited under the terms of the PSU, each PSU vests and converts into no more than 200% of one share of Intel common stock on January 31, 2026, unless that date falls on a non-business date, in which case the next business date shall apply.
Signature
/s/ Julie Kwok, attorney-in-fact|2026-02-03