Finance Geek

Intel wants bail out its employees holding “underwater” options with an exchange program that would give them fewer options at a lower excercise price.

The chipmaker also wants to freeze pay for some of its top executives.

Intel disclosed both plans in a proxy statement. Shareholders will have to approve both plans.

The idea behind the options exchange is to restore an incentive for employees to stay with the company.

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See Also:

• Intel: See, We’re Not Dead! (INTC)
• Intel Cans 5,000-6,000 Employees
• Google Bails Out Employees, Socks It To Shareholders (GOOG)

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This entry was posted on Monday, March 23rd, 2009 at 6:19 am and is filed under Silicon Alley Insider. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.