<SEC-DOCUMENT>0001193125-21-153403.txt : 20210506
<SEC-HEADER>0001193125-21-153403.hdr.sgml : 20210506
<ACCEPTANCE-DATETIME>20210506165100
ACCESSION NUMBER:		0001193125-21-153403
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210506
DATE AS OF CHANGE:		20210506

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTEL CORP
		CENTRAL INDEX KEY:			0000050863
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				941672743
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1228

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-06217
		FILM NUMBER:		21898652

	BUSINESS ADDRESS:	
		STREET 1:		2200 MISSION COLLEGE BLVD
		STREET 2:		RNB-4-151
		CITY:			SANTA CLARA
		STATE:			CA
		ZIP:			95054
		BUSINESS PHONE:		4087658080

	MAIL ADDRESS:	
		STREET 1:		2200 MISSION COLLEGE BLVD
		STREET 2:		RNB-4-151
		CITY:			SANTA CLARA
		STATE:			CA
		ZIP:			95054
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>d881186ddefa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<HTML><HEAD>
<TITLE>DEFA14A</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial" SIZE="4"><B>UNITED STATES </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Arial" SIZE="4"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial" SIZE="3"><B>WASHINGTON, D.C. 20549 </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial" SIZE="5"><B>SCHEDULE 14A </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial" SIZE="2"><B>(RULE <FONT
STYLE="white-space:nowrap">14a-101)</FONT> </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial" SIZE="3"><B>SCHEDULE 14A INFORMATION </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial" SIZE="3"><B>Proxy Statement Pursuant To Section&nbsp;14(a) of the Securities </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Arial" SIZE="3"><B>Exchange Act of 1934 (Amendment No. &nbsp;&nbsp;&nbsp;&nbsp;) </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Arial" SIZE="2">Filed by the Registrant <FONT
STYLE="font-family:Times New Roman" SIZE="2">&#9745;</FONT> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Arial" SIZE="2">Filed by a Party other than the Registrant
<FONT STYLE="font-family:Times New Roman" SIZE="2">&#9744;</FONT> </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Arial" SIZE="2">Check the appropriate box: </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Arial" SIZE="2"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#9744;</FONT> Preliminary Proxy Statement </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial" SIZE="2"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#9744;</FONT> <B>Confidential, for use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2)) </B> </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial" SIZE="2"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#9744;</FONT> Definitive Proxy Statement </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Arial" SIZE="2"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#9745;</FONT> Definitive Additional Materials </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial" SIZE="2"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#9744;</FONT> Soliciting Material under &#167; <FONT STYLE="white-space:nowrap">240.14a-12</FONT> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Arial" SIZE="4"><B>INTEL CORPORATION </B></FONT></P> <P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial" SIZE="2"><B>(Name of Registrant as Specified In Its Charter) </B></FONT></P> <P STYLE="font-size:16px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="line-height:0px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Arial" SIZE="2"><B>(Name of Person(s) Filing Proxy
Statement, if Other Than the Registrant) </B></FONT></P> <P STYLE="margin-top:10px;margin-bottom:0px"><FONT STYLE="font-family:Arial" SIZE="2">Payment of Filing Fee (Check the appropriate box): </FONT></P>
<P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>

<TD WIDTH="2%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="97%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial" SIZE="2"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#9745;</FONT></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial" SIZE="2">No fee required.</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="4"></TD>
<TD HEIGHT="4" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial" SIZE="2"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#9744;</FONT></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial" SIZE="2">Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1) and 0-11.</FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="right"><FONT STYLE="font-family:Arial" SIZE="2">(1)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial" SIZE="2">Title of each class of securities to which transaction applies:</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="right"><FONT STYLE="font-family:Arial" SIZE="2">(2)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial" SIZE="2">Aggregate number of securities to which transaction applies:</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="right"><FONT STYLE="font-family:Arial" SIZE="2">(3)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial" SIZE="2">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule&nbsp;0-11 (set forth the amount on which the
filing fee is calculated and state how it was determined):</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="right"><FONT STYLE="font-family:Arial" SIZE="2">(4)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial" SIZE="2">Proposed maximum aggregate value of transaction:</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="right"><FONT STYLE="font-family:Arial" SIZE="2">(5)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial" SIZE="2">Total fee paid:</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial" SIZE="2"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#9744;</FONT></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial" SIZE="2">Fee paid previously with preliminary materials:</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial" SIZE="2"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#9744;</FONT></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Arial" SIZE="2">Check box if any part of the fee is offset as provided by Exchange Act Rule&nbsp;0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous
filing by registration statement number, or the Form or Schedule and the date of its filing.</FONT></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>

<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="right"><FONT STYLE="font-family:Arial" SIZE="2">(1)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial" SIZE="2">Amount Previously Paid:</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="right"><FONT STYLE="font-family:Arial" SIZE="2">(2)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial" SIZE="2">Form, Schedule or Registration Statement No.:</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="right"><FONT STYLE="font-family:Arial" SIZE="2">(3)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Arial" SIZE="2">Filing Party:</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="right"><FONT STYLE="font-family:Arial" SIZE="2">(4)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Arial" SIZE="2">Date Filed:</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000">&nbsp;</P></TD></TR>
</TABLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXPLANATORY NOTE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Intel Corporation (&#147;Intel&#148;) filed its definitive proxy statement (the &#147;2021 Proxy Statement&#148;) for its 2021 annual stockholders&#146;
meeting on March&nbsp;30, 2021. On April&nbsp;26, 2021, an alleged Intel stockholder filed a lawsuit against Intel and its Board of Directors claiming, among other things, that the 2021 Proxy Statement contains language that renders disclosure in
the 2021 Proxy Statement &#147;imprecise, confusing and misleading.&#148; The plaintiff seeks, among other things, disclosure of certain information and an award of the plaintiff&#146;s attorneys&#146; fees and expenses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Although Intel believes that the stockholder&#146;s claims are without merit and that information addressed in the lawsuit is not material or required under
the proxy rules, to avoid unnecessary distraction ahead of the annual stockholders&#146; meeting, and without admitting any liability or wrongdoing, Intel is voluntarily supplementing the 2021 Proxy Statement with the information provided in this
supplement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>THIS SUPPLEMENT SHOULD BE READ IN CONJUNCTION WITH THE 2021 PROXY STATEMENT. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Supplemental Disclosure </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Patrick P. Gelsinger Equity
Awards </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Patrick P. Gelsinger was named as our new Chief Executive Officer (&#147;CEO&#148;) on January&nbsp;13, 2021 and was appointed as our new CEO
effective February&nbsp;15, 2021. Because Mr.&nbsp;Gelsinger did not serve as an executive officer of Intel at any time during fiscal year 2020, Mr.&nbsp;Gelsinger is not a &#147;named executive officer&#148; under U.S. Securities and Exchange
Commission (&#147;SEC&#148;) rules for fiscal year 2020, and his compensation is not a subject of the advisory vote to approve the executive compensation of our listed officers that will take place at the 2021 annual stockholders&#146; meeting.
However, for informational purposes, we provided a summary of Mr.&nbsp;Gelsinger&#146;s compensation package in the &#147;Compensation Discussion and Analysis&#148; section of the 2021 Proxy Statement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This summary references the &#147;target value&#148; of several equity awards granted to Mr.&nbsp;Gelsinger. &#147;Target value&#148; in this context is the
dollar value that the Compensation Committee approved, based on target levels of achievement of applicable performance goals, when setting Mr.&nbsp;Gelsinger&#146;s equity awards. The &#147;target value&#148; is not the same as the &#147;grant date
fair value&#148; of equity awards described in Financial Accounting Standards Board Accounting Standards Codification Topic 718 (&#147;ASC Topic 718&#148;). As discussed in note 1 to the 2020 Equity Incentives table on page 82 of the 2021 Proxy
Statement with respect to other equity awards that were required to be reported in the 2021 Proxy Statement, the target value can differ from the grant date fair value that is reported in the Summary Compensation Table due to a number of factors.
Additional information describing the methodology used to convert the target value of Mr.&nbsp;Gelsinger&#146;s equity awards to a number of shares is set forth in the Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed by Intel
on January&nbsp;14, 2021, which can be found at the accompanying Annex A and is incorporated herein by reference. </P>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Robert H. Swan Equity Awards </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Robert H. Swan remained our CEO until February&nbsp;15, 2021. As described on page 70 of the 2021 Proxy Statement, in connection with his termination of
employment without cause when he was retirement eligible under our equity program, Mr.&nbsp;Swan received or is eligible to receive certain benefits under his existing arrangements, and in particular, Mr.&nbsp;Swan received accelerated vesting of
his interim CEO RSUs and PSUs, his annual PSUs, and his cash incentive-related PSUs. For most of these PSU awards, Mr.&nbsp;Swan remains eligible to receive a payout based on actual performance of the applicable performance goals at the end of the
applicable performance periods. As discussed on pages 70 and 105 of the 2021 Proxy Statement, these performance goals have not changed in connection with Mr.&nbsp;Swan&#146;s termination and are set forth in existing arrangements. Because the awards
were not modified and there were no new grants to Mr.&nbsp;Swan in connection with his termination, there was not a new &#147;grant date fair value&#148; determination in connection with Mr.&nbsp;Swan&#146;s termination. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 105 of the 2021 Proxy Statement describes the target values of Mr.&nbsp;Swan&#146;s remaining equity awards. These target values are different from the
grant date fair value of these awards under ASC Topic 718. The grant date fair value of these awards is set forth in the Summary Compensation Table for the years in which the awards were granted, and the related compensation tables, notes, and
narrative in the proxy statements for those years. As stated on page 105 of the 2021 Proxy Statement, the target values of the remaining equity awards as of Mr.&nbsp;Swan&#146;s termination date were derived using the closing Intel stock price on
February&nbsp;12, 2021 ($61.81), because the market was closed on Mr.&nbsp;Swan&#146;s termination date of February&nbsp;15, 2021. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Accounting
Treatment </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We treat the expense of equity awards in accordance with U.S. generally accepted accounting principles and ASC Topic 718, including with
respect to the reversibility of the expense in the event a &#147;performance condition&#148; or a &#147;market condition&#148; within the meaning of ASC Topic 718 is not achieved. As indicated on page 94 of the 2021 Proxy Statement, compensation
expense for awards with a performance condition, or for components of awards with a performance condition, is determined in accordance with ASC Topic 718 and is in part based on if and when the company determines that it is probable that the
performance condition will be achieved. All or a portion of such expense may be reversed if it is determined that such achievement is no longer probable, while the probable outcome is not considered, and is not the basis for a reversal of expense,
for awards or components of awards with a market condition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The performance-based equity awards granted to Mr.&nbsp;Gelsinger and described in the
&#147;Compensation Discussion and Analysis&#148; section of the 2021 Proxy Statement have only &#147;market conditions&#148; within the meaning of ASC Topic 718. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Of the equity awards granted to Mr.&nbsp;Swan and described on page 105 of the 2021 Proxy Statement, within the meaning of ASC Topic 718: (i) the Annual PSUs
and Promotion PSUs have a 50% &#147;performance condition&#148; component and a 50% &#147;market condition&#148; component, (ii)&nbsp;the Annual RSUs and Promotion RSUs have only &#147;service conditions,&#148; (iii) the Strategic Growth Equity
Awards have only &#147;market conditions,&#148; and (iv)&nbsp;the Cash Incentive-Related PSUs have only &#147;performance conditions.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The timing of
expense recognition of equity awards differs from when such equity awards are reported under the SEC&#146;s rules for executive compensation disclosure, and the expense recognized differs from the amount and value of equity awards that may actually
be realized by Intel&#146;s executive officers, and in some cases differs from the value of equity awards as reported under the SEC&#146;s rules. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following annex is provided as part of this supplement: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP>Annex</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Description</TD></TR>


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<TD VALIGN="top" NOWRAP>A</TD>
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<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/50863/000119312521009142/d82915d8k.htm">Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed by Intel on January<U></U>&nbsp;
14, 2021</A></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Stockholders of record may revoke their proxy at any time before the electronic polls close by submitting a later-dated
vote online during the annual meeting, via the Internet, by telephone, by mail, or by delivering instructions to our Corporate Secretary before the annual meeting commences. Beneficial stockholders may revoke any prior voting instructions by
contacting the broker, bank, or other nominee that holds their shares or by voting online during the meeting. </B></P>
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