Miller Boise April 4

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.