AMD - Advanced Micro Devices Inc.
12/15/2025 | Press release | Distributed by Public on 12/15/2025 15:12
Management Change/Compensation (Form 8-K)
Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Chief Accounting Officer
On December 12, 2025, the Board of Directors of Advanced Micro Devices, Inc. ("AMD") appointed Emily Ellis, 43, as AMD's Corporate Vice President, Chief Accounting Officer and principal accounting officer effective as of December 15, 2025. Mrs. Ellis previously served as Vice President Controller at Palo Alto Networks, Inc. since March 2024. Prior to that, she was a Partner at PricewaterhouseCoopers LLP from July 2019 to March 2024. Mrs. Ellis is a certified public accountant and holds a B.A. in Accounting from San Jose State University. In connection with Mrs. Ellis' appointment, Ms. Jean Hu will cease serving as interim Chief Accounting Officer. Ms. Hu will continue to serve as AMD's Executive Vice President, Chief Financial Officer and Treasurer.
Pursuant to an offer letter dated November 12, 2025, between Mrs. Ellis and AMD (the "Offer Letter"), Mrs. Ellis' base salary will be $425,000, and she will be eligible for an annual performance bonus target amount of 70% of her base salary under AMD's Annual Incentive Plan. Mrs. Ellis will also receive a cash sign-on bonus of $300,000, as well as a restricted stock unit award with a target value of $3,000,000 to be granted under AMD's 2023 Equity Incentive Plan. The cash sign-on bonus is subject to repayment on a pro-rated basis if Mrs. Ellis' service terminates within two years.
There is no arrangement or understanding between Mrs. Ellis and any other person pursuant to which Mrs. Ellis was selected as an officer, nor does she have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Mrs. Ellis has no family relationships with any of AMD's directors or executive officers.
A copy of the Offer Letter is attached hereto as Exhibit 10.1 and incorporated herein by reference. The foregoing description of the Offer Letter is qualified in its entirety by reference to the full text of the agreement.
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