Intel Freezes Top Salaries, Exchanges Underwater Options

Intel (INTC) wants to bail out its employees holding “underwater” options with an exchange program that would give them fewer options at a lower exercise 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.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.