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Intel Corporation

Ticker: INTC

Meeting date: 12/05/2022

Meeting type: Annual

Proposal Mgt rec Vote
Management proposals
1a Proposal Elect Director Patrick P. Gelsinger Mgt rec For Vote For
1b Proposal Elect Director James J. Goetz Mgt rec For Vote For
1c Proposal Elect Director Andrea J. Goldsmith Mgt rec For Vote For
1d Proposal Elect Director Alyssa H. Henry Vote rationale: Board members should devote sufficient time to fulfil their responsibilities effectively. The chairperson is responsible for leading all aspects of the board’s work and should devote a significant amount of time to fulfil his or her responsibilities effectively. Board members should contribute to effective discussions and decision-making by attending all meetings. Global Voting Guidelines Time commitment of board members Mgt rec For Vote Against
1e Proposal Elect Director Omar Ishrak Mgt rec For Vote For
1f Proposal Elect Director Risa Lavizzo-Mourey Mgt rec For Vote For
1g Proposal Elect Director Tsu-Jae King Liu Mgt rec For Vote For
1h Proposal Elect Director Gregory D. Smith Mgt rec For Vote For
1i Proposal Elect Director Dion J. Weisler Mgt rec For Vote For
1j Proposal Elect Director Frank D. Yeary Mgt rec For Vote For
2 Proposal Ratify Ernst & Young LLP as Auditors Mgt rec For Vote For
3 Proposal Advisory Vote to Ratify Named Executive Officers' Compensation Vote rationale: The board is responsible for attracting the right CEO and setting appropriate remuneration. A substantial proportion of annual remuneration should be provided as shares that are locked in for five to ten years, regardless of resignation or retirement. The board should provide transparency on total remuneration to avoid unacceptable outcomes. The board should ensure that all benefits have a clear business rationale. Pensionable income should constitute a minor part of total remuneration. Global Voting Guidelines CEO remuneration Mgt rec For Vote Against
4 Proposal Amend Omnibus Stock Plan Vote rationale: The board is responsible for attracting the right CEO and setting appropriate remuneration. A substantial proportion of annual remuneration should be provided as shares that are locked in for five to ten years, regardless of resignation or retirement. The board should provide transparency on total remuneration to avoid unacceptable outcomes. The board should ensure that all benefits have a clear business rationale. Pensionable income should constitute a minor part of total remuneration. Global Voting Guidelines CEO remuneration Mgt rec For Vote Against
Shareholder proposals
5 Proposal Reduce Ownership Threshold for Shareholders to Call Special Meeting Mgt rec Against Vote Against
6 Proposal Report on Third-Party Civil Rights Audit Mgt rec Against Vote Against

Disclaimer

This page contains certain information as to the voting intentions of Norges Bank in its role as manager of the Government Pension Fund Global. This disclosure is provided to promote transparency as to Norges Bank’s engagement with investee companies, and in view of its approach to responsible investing. Norges Bank’s voting intention is an internal decision and has not been agreed with any third party. Please note the following:

  • This disclosure is provided for information purposes only. It does not constitute advice and should not be taken as a recommendation or an instruction on any matter, including whether any relevant third party should buy, sell or retain shares, or how any third party should exercise any voting rights they may have. Any person who wishes to obtain advice should seek this from a professional adviser. This disclosure is not a proxy solicitation and is not intended to influence the vote of other shareholders.
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  • To be clear, Norges Bank has no duty of care in respect of any third party who decides to view this disclosure, which shall be done entirely at their own risk.
  • Any information in this disclosure is subject to change without notice. In particular, be aware that Norges Bank’s intentions and the holdings of the Government Pension Fund Global may change over time and, to the extent permitted by applicable law, Norges Bank disclaims any responsibility to update this information as a result of such changes or for any other reason.
  • Securities lending or other activity may mean that the votes cast by Norges Bank are significantly different than its economic or published holding of shares, or significantly different from its holding at the date of this disclosure. No assumption should be made or reliance placed on the number of votes that will be cast.
  • Norges Bank is not subject to any prohibition on securities lending, trading or other activity as a result of this disclosure at any point prior to or after the publication of this disclosure.
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